Friday, 19 December 2014
Last updated 1 hour ago
Jul 5 2011 | 2:21pm ET
Nomura Holdings and one of its top proprietary traders are to launch a new internal hedge fund that will be spun off by the summer of 2014.
The firm and Borut Miklavcic have co-founded Nomura Cross Asset Strategies in London. The hedge fund will feature some of Miklavcic's eight-member fixed-income prop. trading desk, Financial News reports.
Miklavcic and Nomura have been working on plans for Cross Asset for more than a year, but it is still unclear when its maiden fund will debut. Nomura will seed the vehicle, although it is also unclear how much capital the firm will provide.
What is clear is that Cross Asset will be spun-off from Nomura by July 2014, when the U.S. Volcker rule, which strictly limits banks from investing their own capital in hedge funds, comes into force.
Cross Asset would be the second hedge fund launched by a Nomura prop. trader that the firm has seeded this year. The bank was an early investor in Occitan Capital Partners, co-founded by former Nomura derivates trader Herve Gallo, which debuted in January.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.