Global investment firm Arena Investors to shut S’pore office

Global multi-strategy investment firm Arena Investors is shutting its Singapore office and is seeking to reallocate resources elsewhere, according to people familiar with the matter.

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The firm found that investments in Asia were often not as appealing on a risk-to-return basis, nor as scalable compared to those in North America and Europe, one of the people said.

Still, Arena remains open to pursuing compelling opportunities in the region, the person said.

Arena’s Asia-Pacific team is focused on opportunistic credit-related investments with a flexible mandate, including direct lending, asset acquisitions and joint venture formation, according to its website.

Arena’s move to shut its Singapore office comes as the US$1.7 trillion ($$2.2 trillion) global private credit market faces mounting headwinds.