Hong Kong-based Tor Investment Management enters strategic partnership with Chicago's Grosvenor Capital Management as interest in Asian alternatives grows.

Tor Investment Management, the private alternative asset management firm focussed on Asian credit and special investments, has partnered with a US global alternatives company as part of plans to expand its range of offerings.

The strategic alliance with Chicago-based Grosvenor Capital Management, which records some $23 billion in assets under management worldwide, seeks to boost Tor's position in the growing Asian credit and special situations markets, the firm said in a statement. With the once-strict Asian regulatory environment now evolving and becoming more open to new types of funding sources, there is an increased interest in the investment opportunities alternatives offer.

The Hong Kong-based platform resulting from the partnership will be led by Patrik Edsparr and Chris Mikosh, founders of Tor, who are also joined by a team of 12 professionals with significant investment and operational experience. Edsparr was previously the head of global fixed income and chief exeuctive of Citadel Europe, while Mikosh used to be the managing director and head of trading at Golman Sachs' Asian special situations group in Hong Kong. 

Grosvenor, which employs over 260 people worldwide, operates in Asia through offices in Tokyo and Hong Kong.