Manikay Partners, a $1.7 billion US multi-strategy hedge fund set up in 2008 by a proprietary trader from UBS with backing from Goldman Sachs, is planning to open in the UK.

New York-based Manikay's move into Europe comes after Financial News revealed on Monday that Aurelius Capital Management LP, one of the US hedge funds whose long-running legal battle over bond repayments tipped Argentina back into default last month, is to open an office in the UK capital.