CSFB to raise $500m for Moore

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Many of the larger hedge funds are expected to copy the example of Moore Capital and turn to investment banks to raise longer-term capital from institutional investors. This follows the decision to appoint CSFB to raise $500 million of three-year money for the firm's flagship Moore Global macro fund.

The distribution deal is a coup for CSFB, which is leading the investment banks back into the business of raising capital for hedge funds. Their team is being led by Alex Moomjy, formerly of Merrill Lynch where he famously raised capital for Long-Term Capital Management