HONG KONG, April 3 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
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)