Kurt Baker, a veteran of the financial industry with notable stints at Millennium Management and Morgan Stanley, is reportedly in advanced negotiations to secure approximately $3 billion in funding for his latest undertaking, a multi-manager hedge fund firm named 30th Century Partners. The news was shared by an anonymous individual familiar with the matter on Thursday.
Baker's new venture is expected to rival established players such as Citadel in the Asian market. The Hong Kong-based firm, 30th Century Partners, has its sights set on commencing trading activities by June 2024.
The source disclosed that Baker, who formerly headed Morgan Stanley's Asia prime brokerage, is engaged in serious talks with several potential investors. This move aligns with his previous experience and expertise in the Asian financial market.
30th Century Partners plans to operate with a team structure comprising eight to ten investment groups. The firm's focus on the Asian market positions it well in a region that has seen significant growth and interest from hedge funds and other investment entities.
The successful raising of $3 billion would mark a significant milestone for Baker and 30th Century Partners, demonstrating strong investor confidence in the new venture's potential to compete in the competitive Asian hedge fund landscape.
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