Credit Suisse Plans to Spin Out a $1 Billion Quant Hedge Fund
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Credit Suisse Group AG’s asset management business plans to spin out a $1 billion quantitative hedge fund later this year, according to a person familiar with the matter.
The Qube Fund, which uses computer models to trade stocks, will be managed by Credit Suisse Quantitative and Systematic Asset Management, which will be a separate group as part of a management buyout, said the person, who declined to be named discussing firm matters. QSAM’s team will be located in London, Paris, Hong Kong and Mumbai.