Vinland Capital, the Brazil-based hedge fund firm founded by Andrew Laport, a former Partner at Goldman Sachs Group, is to establish a physical presence in the US with the opening of a new office in New York, according to a report by Bloomberg.

The report cites people familiar with the matter as confirming the move which Vinland sees as a way of deepening relationships with its existing roster of US institutional investor clients.

Vinland, which has about BRL14bn ($2.8bn) in AUM, according to Brazil's capital markets association Anbima, is the latest Brazilian hedge fund to set its sights on establish a US presence with Kapitalo Investimentos last year announcing a plan to open a New York office, while SPX Capital has been in the US since 2017.