Brummer & Partners, Sweden’s largest hedge fund manager, plans to take a stake in a new firm set up by the two former co-chief investment officers of Rubicon Fund Management.

Brummer has teamed up with former Rubicon managers Tim Attias and Santiago Alarco. The pair are setting up a London-based company and are planning to launch a global macro fund. Brummer will take a stake in the company and its multi-strategy fund will invest in the new hedge fund. The exact terms of the deal have not been disclosed.