Convertible bond follows hiring of Soros managers

New Star is planning to launch a Bermuda-domiciled convertible bond arbitrage fund in March following the recruitment of Sajid Ramzan and Chris Beton from Soros Fund Management.

After the London office of Soros Fund Management closed in the past month and relocated staff to New York, New Star hired Ramzan and Beton for the fund that will sit alongside its long/short equity funds.

Ravi Anand, New Star's corporate finance director, said the fund will be concentrated mainly on European and Asian bon