Fuchs seeks $800 mln for Nomura-backed hedge fund
HONG KONG, April 3
HONG KONG, April 3 (Reuters) - Former Nomura Holdings Inc trader Benjamin Fuchs will launch a multi-strategy hedge fund on June 1 with backing from Japan's largest investment bank, expanding the list of high-profile start-ups this year.
Nomura will match the amount that Fuchs' firm, BFAM Partners (Hong Kong) Ltd, raises up to $200 million.
The fund aims to raise $400-500 million, including Nomura's matching amount at the initial stage, said James Singh, the hedge fund's chief operating officer.
"We will start on June 1 and the money we raise will probably be over the course of the summer," said Singh, who joined Fuchs in early 2011 from Swiss fund of hedge funds manager Gottex Fund Management Holdings Ltd.
He said the hedge fund would look to close the fund after raising $700-800 million in current market conditions.
Nomura could not immediately be reached for comment.
Hong Kong-based Fuchs, who led the Global Opportunities Group proprietary trading desk at Nomura, has been in the news since 2009 for his plans to raise money from outside investors and later launch his own hedge fund.
He registered BFAM Partners with the Hong Kong market regulator on Friday, records on the Securities and Futures Commission website show. (Reporting by Nishant Kumar; Editing by Chris Lewis)
- Tweet this
- Share this
- Digg this
- Japan's NTT DoCoMo to exit India telecoms joint venture - sources
- Apple, Google agree to pay over $300 million to settle conspiracy lawsuit
- Nokia to name Rajeev Suri as next CEO on Tuesday - report
- BREAKINGVIEWS-Review: India's Singh wasn't king, Modi could be
- Met office sees below-average monsoon in 2014