Former SAC Capital Advisors executive Solomon Kumin has secured a $400 million investment from Leucadia National for his startup hedge fund firm, according to people familiar with the recent developments.

An agreement signed late last week finalised plans to make Leucadia the biggest fund investor and near-50% owner of Kumin's firm, the people familiar with the developments said. Precise terms, such as the potential ownership breakdown and revenue-sharing details, couldn't be learned.