Sunday, 29 March 2015
Last updated 2 days ago
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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…