Wednesday, 25 November 2015
Last updated 4 hours 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…