SLJ Macro Partners, a hedge fund set up by former Morgan Stanley forex strategist Stephen Jen in 2011, has sold a majority stake to Eurizon Capital, the €260 billion fund management arm of Italian bank Intesa Sanpaolo, which is aiming to build its presence in London.
Their agreement, described as a "strategic partnership", will entail the sale of a 65% stake in the €1 billion hedge fund to Eurizon. Stephen Jen and his fellow founding partner Fatih Yilmaz will retain 35%.
