Ex-Nomura trader cuts its ties with bank to spin out new fund

 
Michael Bow
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FORMER Nomura prop trader Borut Miklavcic has launched a new hedge fund, LindenGrove Capital, after severing ties with the bank on an original business venture between the two parties.

Miklavcic registered the limited liability partnership LindenGrove Capital in June and is understood to be awaiting approval from the UK Financial Services Authority to launch the new fund later this year.

It is thought Miklavcic, the former global head of liquid markets proprietary trading at Nomura, has lined up a number of ex-Nomura colleagues to come on board to work on the fund.

It follows a partnership set up in 2011 between Miklavcic and Nomura Europe, called Nomura Cross Asset Strategies, which was formally dissolved in June following LindenGrove’s registration.

It is thought this fund was originally set to launch within Nomura and spin off once it had been set up. It is understood Nomura has not seeded any money into LindenGrove.