Ex-BlueCrest PM Johar Said to be Planning New Event-Driven Fund

Sep 27 2016 | 11:22pm ET

Former BlueCrest Capital Management portfolio manager Tej Johar is reportedly prepping a new event-driven hedge fund firm in London. 

The new fund, named Broad Bridge Capital LLP, will seek out opportunities related to corporate events such as mergers, acquisitions and restructurings, according to a Bloomberg article citing to an unidentified person familiar with the matter.

Broad Bridge Capital was incorporated on February 29, 2016, according to regulatory filings in the U.K., and lists Johar as an officer. Prior to forming Broad Bridge, Johar was an equities manager for Michael Platt’s BlueCrest until the end of the 2015. Before joining BlueCrest in 2013, he was a prop trader for Credit Suisse. 

Additional details about the fund, such as AUM or expected launch date, were not immediately available, although Bloomberg reported that Broad Bridge has received capital from an U.S. institution. 

Johar is the latest in a series of BlueCrest executives to form their own funds following BlueCrest’s decision in December 2015 to return all outside capital and revert to a private investment partnership.

Former BlueCrest portfolio manager Takashi Makita announced plans in August to launch a new systematic hedge fund manager that will focus on volatility-related opportunities, while ex-BlueCrest executives Frederic Favre, Alexandre Germak and Melanie Owen formed macro hedge fund Alpstone in April. 

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