Ex-BlueCrest portfolio manager Makita to launch volatility fund - sources

By Maiya Keidan

LONDON (Reuters) - Former BlueCrest portfolio manager Takashi Makita is gearing up to launch his own computer-driven hedge fund firm, Niten Capital Management, to trade volatility, four sources told Reuters.

Chief investment officer Makita plans to launch London-based Niten Capital with between $50 million and $300 million, said one source, and will tap into growing demand from investors for hedge funds run on algorithms.

Niten is expected to launch by year-end, a second source said.

Computer-driven hedge funds aiming to profit from market trends and those looking to trade price discrepancies in company stocks received the greatest investor interest in 2015 and will be the most requested for the next six to 12 months, a Barclays research note said last month.

Funds can trade movements in volatility in a range of asset classes, including foreign exchange and stocks.

Makita joined BlueCrest as a portfolio manager in November 2012 and left in February 2015 prior to the $8 billion hedge fund firm run by Michael Platt going private.

He had previously worked for JPMorgan, Credit Suisse and Deutsche Bank, overlapping at the German firm with Chiehmi Chan, who will join Makita at Niten Capital as chief executive officer, the second source said.

(Editing by Simon Jessop and Adrian Croft)