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GCI Plans New Hedge Fund to Snap Up Hybrid-Security Bargains

Bloomberg – GCI Asset Management Inc., a Japanese hedge fund with 26 billion yen ($265 million) in assets, said it will start a new fund to snap up bargains in hybrid securities that combine debt and equity.

The new fund, GCI Japan Hybrids, opens April 16 and plans to raise 10 billion yen within two months from institutional investors including pension funds, Takahiko Suenaga, 44, president of Tokyo-based GCI, said in an interview yesterday. Former Merrill Lynch & Co. proprietary trader Naruhisa Nakagawa will advise the fund, which will be managed by GCI’s unit in Singapore, said Suenaga.

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