Third Avenue opens Singapore research office
SINGAPORE (Reuters) - U.S. investment firm Third Avenue Management said on Tuesday it has set up a research office in Singapore to improve its monitoring of Asian companies.
Third Avenue, whose Asian holdings include Cheung Kong <0001.HK>, Henderson Land <0012.HK> and Toyota Industries <6201.T>, said the Singapore office will be headed by Henry Patner.
The firm is actively seeking to add research professionals to its Singapore office, it said in a statement.
"Our firm has in excess of $9 billion invested in Asia...It is important to have resources on the ground in this region to continue to enhance our research capabilities," Third Avenue Chief Executive David Barse said in the statement.
Third Avenue manages four funds with total assets of around $20 billion, according to its Web site.
Singapore's financial services industry has grown strongly in the past three years, as the city-state has wooed the world's top players in private banking, expanded its derivatives market and attracted Chinese stock market listings.
(Reporting by Kevin Lim, editing by Neil Chatterjee)