Investors poised as banks weigh fixed-income spin-offs

For months, Credit Suisse is known to have been working on a spin-off of parts of its US fixed-income business. Now, asset manager Voltaire Capital reveals it has lined up more than $300 million in capital from ultra-high-net-worth investors to back new market-making ventures. Are these the first stirrings of a fixed-income revolution? Matt Cameron reports

For anyone wondering what to do with a couple of hundred million dollars of investment capital, there will soon be a new option on the table – owning the liquid parts of a top-10 fixed-income franchise.

That sounds wrong – too cheap, surely – but it is exactly the kind of deal that Voltaire Capital, a London-based alternative asset manager stuffed full of former derivatives structurers, is lining up for a group of ultra-high-net-worth investors, which are on the verge of tying up somewhere north