Millennium Global Investments has established a presence in New York and is planning its first push into Japan, a week after Lord Jacob Rothschild and Sir Ronald Cohen announced they had taken or increased stakes in the London hedge fund manager.

Mark Astley, Millennium Global's chief executive, said the company was seeking a license from Japan's regulator the Financial Supervisory Agency to distribute products from a new office it opened in Tokyo in May. The company, which manages about $15bn (€9.3bn), could also develop new products for Japanese investors, he said.