Nomura Asia Prop. Desk Chief To Launch US$400M Hedge Fund

Jul 11 2011 | 1:10pm ET

Nomura Holdings' proprietary trading desks are proving a hothouse for hedge fund seedlings.

The latest Nomura prop. trader to sprout into a hedge fund manager is Benjamin Fuchs. The head of Nomura's global opportunities group, Fuchs plans to launch an Asia-focused hedge fund backed by his former employers later this year, Reuters reports,.

Fuchs hopes to raise at least US$400 million for B.A.F. Capital Management's maiden fund; up to US$200 million of that will come from Nomura.

B.A.F. will employ 24, with 13 investment professionals, according to Reuters.

News of Fuchs' hedge fund dreams follow Nomura's decision to launch a hedge fund headed by fixed-income prop. trader Borut Miklavcic internally. The bank plans to spin-off Miklavcic's fund, Nomura Cross Asset Strategies, by 2014 to comply with the U.S. Volcker rule, which strictly limits banks from investing their own capital in hedge funds.

In January this year, Nomura seeded Occitan Capital Partners, founded by Herve Gallo, a former derivatives trader at the bank.

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