US investment firm GoldenTree Asset Management opens an office in Singapore.

GoldenTree Asset Management, the US-based investment firm that caters to high net worth investors, has opened an office in Singapore.

The new branch is headed by Shahriar Saadullah as managing director, to run business development in Asia-Pacific. Saadullah was previously the head of Asia-Pacific at Citigroup's global markets' international fund distribution group, where he led the team responsible for institutional placement of alternative investments, such as private debt funds, hedge funds, real estate and others. Before that, he was with Citi's European fixed income business. 

In his new role, he reports to Kathy Sutherland, the global business development head.

The Singapore office will initially focus exclusively on business development in permitted areas. Hiring investment professionals to operate from this location could be a future consideration, said the firm in a statement. 

GoldenTree manages around $20 billion in assets for institutional and individual clients worldwide through primary offices in New York and London.