Alternative Investment Management Association (AIMA), the global hedge fund industry association, has set up an office in Washington DC.

The new location is the association’s second US office.

AIMA also has an office in New York.

Through the Washington DC office, the association intends to strengthen relationships with local regulators.

Besides, the new office launch is also said to enable the expansion of local committees, peer networks and other practical tools for US members.

The Washington DC office will be headed by Jiri Krol, the deputy CEO and global head of government affairs at AIMA.

Krol stated: “I look forward to working with members and colleagues to expand our offering in the Americas and to strengthen the voice of the alternatives industry in government and among key stakeholders, especially the investor community.”

Krol will retain his existing responsibilities such as managing policy and regulatory engagement in Europe and Asia Pacific.

At the same time, he will serve as the global head of AIMA’s private credit unit Alternative Credit Council (ACC).

AIMA CEO Jack Inglis said: “The US is by far the largest alternatives market in the world. Over $1trilllion – more than half of our manager members’ assets – are managed by firms headquartered in the US.

“It is also the world’s largest private credit market, where many of our ACC members are headquartered.”