Mizuho bolsters asset management business with Eurekahedge acquisition

Mizuho Financial Group  will buy the hedge fund research firm Eurekahedge for about $25 million. This is the latest move by the bank to bolster its asset management business.

Mizuho, which has positioned asset management as one of its target growth area, said its core banking unit had agreed to buy a 95 percent stake in Eurekahedge from the Singapore-based firm's owners.

Mizuho Corporate Bank will pay between $20 and $30 million for the stake, according to a Reuters report.