By Nishant Kumar
HONG KONG (Reuters) - The Asian prime brokerage unit of Credit Suisse
The annual survey by industry tracker AsiaHedge, released this week, found that Goldman Sachs
Credit Suisse overtook Morgan Stanley by adding 14 new clients and $2.4 billion in assets over the last year, a first for any prime broker in Asia, the survey showed.
Prime brokers provide services such as clearing trades and lending money to hedge funds. The fiercely competitive industry is going through a rough patch in Asia, where raising capital is becoming more difficult and many funds are shutting down.
For prime brokers' mandates and assets under management in Asia click: http://link.reuters.com/syd38t
Most hedge funds do not disclose how they divide their business between prime brokers, making any survey a rough estimate. A hedge fund may, for example, have five prime brokers but give 90 percent of its business to just one or two of them.
In Hong Kong and China, the biggest hedge fund centers in the region, Credit Suisse emerged as the top player, replacing last year's leader Deutsche Bank AG
Overall in the region, Deutsche Bank and UBS AG
(Reporting by Nishant Kumar; editing by Miral Fahmy)