Boaz Weinstein, the high-profile former Deutsche Bank prop trader, and Dan Stern’s $6bn alternatives firm Reservoir Capital, are backing a new credit hedge fund firm led by a one-time protégé of Weinstein.

Weinstein and Reservoir are providing capital to Camares Capital, according to two people familiar with the situation. Camares has been set up by Antoine Cornut, who led flow credit trading in the Americas and Europe at Deutsche Bank until he left last year. Weinstein hired Cornut to Deutsche Bank in 2007.