Tokyo Hedge Fund Teams Up with Nomura Asset ManagementTokyo-based hedge fund incubation firm Bridge Capital Asset Management Co. signed partnership agreement with Nomura Asset Management, according to asset management firm announcement.
Under an agreement reached by the two firms, Nomura Asset Management will invest up to 3 billion yen (US$29.3 million) in Bridge Capital's incubation fund for hedge fund managers focused on Japanese equities, with an option to take an equity stake in the firm in the future.
A Nomura spokesman said his firm's capital commitment will be drawn down as and when Bridge Capital identifies new incubation candidates.
The spokesman declined to provide specific details regarding when Nomura can exercise its option to acquire a stake in Bridge Capital, or how big that stake might be.
In a separate interview, Takashi Yabuuchi, the CEO of Bridge Capital, said the option would allow Nomura to take a minority stake in the company.Source: Pensions & Investments