Multi-strategy hedge fund manager Verition Fund Management (Verition) has signed a lease for new office accommodation at Piccadilly Circus in the heart of London’s West End, according to a report by Bloomberg.

The report cites an emailed statement from Land Securities Group on Wednesday as confirming that Verition will occupy the third floor of the 144,000 sq ft (13,378 sq m) Lucent building, which is located behind the iconic LED display in Piccadilly Circus and a walk under 10 minutes from Verition’s existing office premises on St James’s Street.

According to a person familiar with the matter, Verition, which posted gains of 8.2% in 2023, has rapidly grown its assets under management to around $8.7bn, with staff numbers now standing at over 500 firm-wide.

The fund has offices in Greenwich, New York, London, Singapore, Hong Kong and more recently Dubai, where it expanded in mid-2023.