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Ex-Millennium trader Dale raises $200 mln for hedge fund launch - sources

Reuters - UK Focus

LONDON, April 1 (Reuters) - One of the year's most high-profile European hedge fund start-ups, ex-Millennium star trader Chris Dale's Kintbury, is due to launch in May after raising at least $200 million in start-up capital, sources said.

After a relatively quiet 2014 for large European launches, 2015 has already seen several industry personalities look to strike out on their own, including ex-Lansdowne Partners' partner Stephen Kirk, who plans a summer launch.

Kintbury had been due to launch in the first quarter but would now likely be ready for launch on May 1, sources said.

Three sources said total assets would be at least $200 million. Initial investors in a hedge fund start-up include the partners themselves as well as high net worth individuals or pension funds. (Reporting by Simon Jessop and Nishant Kumar; editing by Sinead Cruise and Steve Slater)