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Qube Research & Technologies, one of the largest and fastest-growing quant firms in the hedge fund industry, has opened its eleventh office in Sydney.
The AFI Power List manager, which had grown to $20bn under management as of earlier this year, said the new office reflected QRT’s culture, with collaborative workspaces, open layouts and “social hubs for connection”.
Qube is based on level 24 of the office tower at Aurora Place overlooking the Australian city. The office includes a glass-walled server room and a “maker space” featuring a Lego station.
The new office marks the latest stage of Qube’s rapid recent expansion since spinning out from Credit Suisse with $1bn in 2018, led by Pierre-Yves Morlat, to trade across asset classes based on quant signals.
It is now the fifth largest purely quant-focused hedge fund manager in the industry and one of ten firms above the $10bn threshold mainly deploying a multi-strategy approach.
It has been a leading provider of external allocations to other hedge funds in 2024, driving a revival in the use of separately managed accounts, mainly by the biggest multi-strats.
Qube is headquartered in London and has offices in Paris, Singapore, Hong Kong, Denmark, Zurich, Geneva, Shanghai, Dubai and Mumbai.
Of the 66 hedge fund firms managing more than $10bn at the start of 2024, 16 now have offices based in Dubai, including Qube. About a third of the 22 have offices in either Dubai or Abu Dhabi.