Saturday, 20 December 2014
Last updated 1 day 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.
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.