Former investment bankers from JPMorgan and UBS are planning to launch a new hedge fund firm in London on 1 May 2014.
The firm, Amagis Capital, is founded by Andrea Angelone, Amit Jain, Guido Miani and Simone Russo.
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The firm seeks to benefit from increasing corporate activity in Europe and opportunities created by banks’ exit from proprietary trading.
The new firm will invest in companies pursuing acquisitions, share buybacks and other transactions, according to the Bloomberg.
As part of the launch, Angelone and his partners have raised US$35 million from six investors.
Bloomberg quoted Angelone saying that the new firm aims to manage US$100 million by the end of 204 and US$500 million in three years.
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By GlobalDataAdditionally, Amagis is also planning to open an office in Monaco.
