Hong Kong-based money manager chooses Pittsburgh for its East Coast hub
“A Hong Kong-based investment management group looking for new opportunities to enter the U.S. public pension market has acquired Fusion Investment Group LLC, an employee-own hedge fund based in Canonsburg.
“Fusion, founded in 2006, has built a book of business managing public pensions for clients such as the City of Pittsburgh, Allegheny County, Westmoreland County and other small to medium municipal accounts. All totaled, Fusion manages about $150 million in assets, according to the company.
“Fusion was acquired by Rayliant Global Advisors in late June, but announced the deal recently. Financial details of the transaction were not disclosed.”