Dymon Asia Capital, the Asia-focused hedge fund firm founded by Danny Yong and Keith Tan in 2008, is expanding its Hong Kong office bucking a local trend that has seen many international financial firms reduce their floorspace in the city.

The report cites Dymon Managing Partners and Deputy Chief Executive Officer Kenneth Kan as confirming that the firm has signed a lease for a 7,000 sq ft office in Edinburgh Tower in the Landmark commercial complex owned by Hongkong Land Holdings.

The new space can accommodate more than 70 employees, double that of its current office in the Nexxus Building, which it has occupied since 2016.

The firm currently has more than 30 employees based in Hing Kong, with 40% of the 15 portfolio managers hired since the beginning of last year having opted to be based in ten city despite being offered the opportunity to work in other locations, including Singapore, Tokyo, Mumbai and Shanghai, according to Kan.

Dymon plans to move into its new office in the fourth quarter of this year.