Schonfeld to Start Second Equity Unit With Focus on Asia

Schonfeld Strategic Advisors is creating a second equities unit, focusing on Asia-Pacific markets, becoming the latest multistrategy hedge fund to operate multiple stock-picking businesses.

The New York-based firm is launching Triwood Asset Management, which will pursue a long-short equity strategy in Asia and be led by veteran portfolio manager Yasuhiro Tamaki, according to an internal memo seen by Bloomberg. Triwood will start with Tamaki and around 30 staff who already report to him, plus new hires, Schonfeld Chief Executive Officer Ryan Tolkin said in the note.