Bloomberg – Hal Lehr, a former Deutsche Bank AG (DBK) and Soros Fund Management LLC trader, received backing from JPMorgan Chase & Co. (JPM)’s asset management unit to start a New York hedge-fund firm, a person with knowledge of the matter said.
The firm, to be named Aithon Capital, is scheduled to start in January with JPMorgan investing about half its initial $100 million of capital, the person said, asking not to be identified as the information is private. The global fund will focus on commodity trading and JPMorgan can boost its investment to as much as $500 million, the person said. Aithon is in talks for office space at 501 Madison Avenue in New York, the person said.
