Thursday, 30 July 2015
Last updated 14 hours ago
Feb 11 2008 | 9:59am ET
Moore Capital Management is spinning off its fixed-income hedge fund, which plans to grow as large as US$3 billion after a new fundraising effort.
James Caird Asset Management is set to launch in the second quarter.
The new London-based firm will take Moore Capital’s Credit fund and 30 employees, led by fund manager Tim Leslie, with it. London-based Moore will have a stake in the new company, with which it hopes to have a “symbiotic relationship,” it said.
At launch, the firm expects to manage US$2.5 billion, the Financial Times reports, though that figure could reach US$3 billion.
Moore told the FT that the decision to spin off the credit fund was the result of its size, making it sensible to have a dedicated risk management and operation system for it.
May 27 2015 | 2:15pm ET
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