Investors poised as banks weigh fixed-income spin-offs

Ultra-high-net-worth investors ready to sink $300 million into market-making revolution

For anyone wondering what to do with a couple of hundred million dollars of investment capital, there will soon be a new option on the table – owning the liquid parts of a top-10 fixed-income franchise.

That sounds wrong – too cheap, surely – but it is exactly the kind of deal that Voltaire Capital, a London-based alternative asset manager stuffed full of former derivatives structurers, is lining up for a group of ultra-high-net-worth investors, which are on the verge of tying up somewhere north