Hedge-Fund Startups Sprout as Roc Gathers $1 Billion

June 16 (Bloomberg) — Arvind Raghunathan , former head of Deutsche Bank AG’s global arbitrage business, will open his new hedge-fund firm next month with more than $1 billion, a sign that investors are trickling back after record losses last year.

Roc Capital Management LP’s assets will include $500 million in a separate account from Deutsche Bank, according to people familiar with the New York-based firm, who asked not to be identified because the information is private. It’s the largest hedge-fund startup this year, one of at least eight expected to raise more than $250 million each, according to brokers who provide credit and lend securities to managers.

The ventures are being set up by executives who left banks that scaled back trading to conserve capital, or hedge funds whose 2008 losses will limit bonuses for at least another year. Investors see them as an opportunity to get in early with the next George Soros or Paul Tudor Jones, who have outperformed rivals for most of their careers.

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