JPMorgan, UBS Vet Snags $300 Million Seed

Feb 20 2013 | 1:38pm ET

A top former JPMorgan Chase and UBS credit trader has won a $300 million seed investment from Paloma Partners.

Rosen's New York-based Reef Road Capital Management plans to launch its maiden hedge fund in the second quarter, Bloomberg News reports. In winning Paloma's backing, it joins other industry luminaries, including D.E. Shaw Group, in which Paloma also invested.

Rosen is still hiring for his credit hedge fund, having already hired JPMorgan's Henry Kim and Jeff Nusbaum, both of whom worked for him at the bank. All told, Reef Road has seven employees currently, and aims to increase that headcount to between 11 and 13 at launch.

Rosen spent 13 years at JPMorgan before joining UBS as co-head of fixed-income, currencies and commodities in 2011. He left that bank last summer.

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