Tokyo Hedge Fund Teams Up with Nomura Asset Management
Tokyo-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
