A Man Group subsidiary is backing a new hedge fund started by a former Citadel manager.
Bloomberg reported that FRM Capital Advisors will make an undisclosed “significant investment” in the new fund managed by Toby Bartlett’s Hong Kong-based Arena Capital Management.
The new fund bets on rising and falling Japanese stocks with a focus on domestic demand industries.
FRM Holdings, the parent company of FRM Capital Advisors, was acquired by Man in May.
London-based Man, the world’s largest listed hedge fund, has about $60 billion in assets under management.