American fund of hedge funds Kenmar has opened its first international office in Singapore. Kenmar Asia will be run by Chris McLeod who, before joining the firm, used to run alternative investments for ABN Amro in Hong Kong.

Kenmar was founded in Connecticut in 1983 by Ken Shewer and Marc Goodmar, and they remain the joint CIOs of the funds. The firm now employs 45 people.

Kenmar has two main fund of hedge funds products; a managed futures fund and a commodities/natural resources fund.

Kenmar Asia in Singapore has a dual role of research and due diligence for hedge funds to which the investors' assets may be allocated in the future, plus finding Asian investors in the institutional and private banking arenas to invest in existing products.

The new Singapore office, which was opened at the beginning of September, has just a handful of staff, but expectations are to conduct further hires as the firm settles in.