Ex-Nomura Volatility Trader To Launch US$250 Million Hedge Fund

Jul 25 2012 | 11:33am ET

A protégé of BFAM Partners founder Benjamin Fuchs at Nomura Holdings is set to join his former boss in the hedge fund industry.

Jean-Noel Payer, who ran volatility investments for Fuchs at the bank, will launch his Voltex Asia Capital in September, three months after Fuchs unveiled his maiden offering. Payer has lined up some US$250 million in commitments from U.S. investors for Asia-focused volatility arbitrage and macro fund, Reuters reports, which would make it one of the largest Asia launches of the year.

"We target to be fully operational and launch in September," Payer said of his Hong Kong-based firm. He said he plans to launch with a seven-strong team, including two portfolio managers.

Voltex received regulatory approval in Hong Kong yesterday.

According to AsiaHedge, newly-launched hedge funds in the region raised US$2 billion in the first half, including the US$440 million garnered by former Perry Capital Asia chief Alp Ercil and the nearly US$200 million netted by UBS Australia veteran Gerard Satur's MST Capital. Payer joins Credit Suisse's David Curtis, Och-Ziff Capital Management's Manjor Jain and Sohit Khurana, and JPMorgan Chase's William Lee in planning Asia hedge funds for launch in the second half.


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