New York hedge fund manager to spin off $2b Singapore unit

The new firm will commence transition next year.

Alphadyne Asset Management LLC, a New York-based hedge-fund manager overseeing $4.8 billion in assets, will separate its Asia team into a new firm, said a person with knowledge of the matter.

Bart Broadman, a co-founder of Alphadyne and chief investment officer of its Asia strategy, will be CIO of the new Singapore-based firm, said the person, who asked not to be identified as the information hasn’t been publicly disclosed. The transition will begin in the first half of 2017 and the new firm will retain its current investment focus on economic trends in Asia by trading in areas such as interest rates and foreign exchange, the person said.

Read more here from Bloomberg.