Jun 27 2014 | 9:10am ET
Investment bank StormHarbour securities has bought a large stake in hedge fund Asuka Asset Management, three years after the Tudor Investment Corp. spin-off bought a stake in StormHarbour.
StormHarbour has agreed to buy 49% of Japan’s Asuka, Bloomberg News reports. As part of the new arrangement, Asuka CEO Mamoru Taniya will become a managing principal at StormHarbour in charge of its asset management business.
StormHarbour last year hired a former Morgan Stanley executive, Kazunobua Ezawa, to pursue expansion through acquisition in Asia, especially Japan. Asuka has about ¥20 billion (US$200 million) in assets under management and boasts a primarily Japanese client base.
The hedge fund hopes to use its new connection to StormHarbour to quintuple its assets under management within two years.
Three years ago, Asuka bought an 8% stake in StormHarbour’s Tokyo-based securities business, StormHarbour Japan.
Jan 30 2018 | 9:49pm ET
As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...
May 24 2017 | 9:25pm ET
Starting in 2019, financial industry executives sitting for the coveted Chartered...
Feb 14 2018 | 9:57pm ET
Tasked with delivering returns on client capital, a common dilemma for many alternative...