The Securities and Futures Commission (SFC) has issued a licence to Carl Huttenlocher, ex-Asia head of JPMorgan Chase & Co's Highbridge Capital, for his hedge fund Myriad Asset Management, Reuters reports. The permit has been given to Huttenlocher to start asset management business in Hong Kong. The licence had been held up due to re-examination by the regulator following an anonymous objection.
Myriad had initially been projected to kick off trading in September with a little in excess of $300 million. Huttenlocher, who quit alternative investment manager Highbridge Capital in March, was in-charge of its Asia-focused fund. Highbridge and its affiliates manage approximately $27 billion in capital for a range of investors.
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