Former BlueCrest Money Manager Tej Johar Said to Plan Hedge Fund

Tej Johar, a former money manager at BlueCrest Capital Management, is preparing to start his own hedge fund in London, according to a person with knowledge of the matter.

Johar’s Broad Bridge Capital LLP will pursue an event-driven strategy, betting on corporate events such as mergers and acquisitions as well as restructurings, said the person, asking not to be named because the plan is private. He has received capital from a U.S. institution, the person said. Johar, 28, declined to comment.

More hedge funds have closed than started in Europe since 2015 as costs have risen and investors are reluctant to allocate money because of industry’s high fees and poor performance. Some managers, with track records of making profits and working at well-known investment firms, are still pressing ahead with start-up plans.

Johar left billionaire Michael Platt’s BlueCrest last year having joined the firm in 2013. The London School of Economics alumnus previously worked at Credit Suisse Group AG.

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