Mitsubishi to join with Aladdin Capital, set up hedge fund

HONG KONG (MarketWatch) — Mitsubishi Corp. [: jp: 8058] will invest $300 million to establish a hedge fund in partnership with U.S. investment management group Aladdin Capital Holdings LLC, according to a Japanese media report. As part of the alliance, Mitsubishi will invest $40 million for a 20% stake in Aladdin Capital, becoming its second-largest shareholder, the Nikkei newspaper reported, without citing its source. The new fund will target $5 billion under management within five years, the report said. Mitsubishi was reportedly approached by Aladdin Capital after the group sought external investment to help replenish its balance sheet amid difficulties arising from the global credit squeeze last year.
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Original post by Forextvblog

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