Friday, 19 December 2014
Last updated 1 hour ago
Apr 3 2012 | 1:38pm ET
A former Nomura Holdings proprietary trader will launch his first hedge fund this summer with as much as US$500 million, including a big seed from his late employer.
Benjamin Fuchs' Asia-focused multi-strategy fund will debut on June 1. His Hong Kong-based firm, BFAM Partners, hopes to raise between US$200 million and US$300 million at launch. Nomura will match Fuchs' early fundraising, up to US$200 million, meaning that BFAM should have between US$400 million and US$500 million at launch.
After launching, BFAM will continue to raise money until it reaches US$700 million to US$800 million, when it will consider closing the fund.
"We will start on June 1 and the money we raise will probably be over the course of the summer," James Singh, chief operating officer, told Retuers.
BFAM registered with Hong Kong's Securities and Futures Commission on Friday. Initial reports indicated that Fuchs, formerly head of Nomura's global opportunities desk, planned to launch the fund last year.
Dec 1 2014 | 10:21am ET
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