Moore Capital Management, the $10bn (€7.9bn) US hedge fund run by billionaire Louis Bacon, has hired a team of traders from collapsed Amaranth Advisors to head up its new office in Toronto.

Manos Vourkoutiotis, who managed Amaranth's Canadian debt, equity and derivatives portfolios for the last six years, and his team at Amaranth will manage an $800m portfolio at Moore that will invest in equities, convertible bond arbitrage, high-yield debt, distressed credit and high-yield debt.