Friday, 19 December 2014
Last updated 3 hours ago
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.
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…
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