UK-based Isis negotiating hedge deal with Irish Cardinal

UK-based fund manager Isis Asset Management is negotiating to take a 15% stake in start-up Irish hedge fund manager Cardinal Asset Management. The deal would allow Isis to brand and market Cardinal"s products in the UK and Europe. Although Cardinal is a start-up, two of the three main founders, Nick Corcoran and Paul Kearney, were directors at Zurich Capital Markets which, until its sale in 2003 to BNP Paribas, had raised more than $10bn in alternative asset exposure. Nigel McDermott, the third founder, was a also a founding director at International Investments & Underwriting, an absolute...