Moore Capital Management is believed to be in talks with Alan Lewis about backing a new hedge fund. Lewis, still employed by Moore Europe Research Services in London, has been talking to prime brokers and fund administrators about setting up his own hedge fund. Following the demise of Tiger Management and the change in focus at Soros Fund Management, Moore Capital is now the largest macro hedge fund with some $9bn (€9.63bn) under management.

Lewis, who was on holiday and could not be reached for comment, is said to have gained capital pledges for a substantial portion of $500m. Funding Lewis would be in keeping with Moore Capital's stated intention to keep the size of its main funds, Moore Global Investments and Remington Investment Strategies, at $5bn in 2001. Officials at Moore Capital declined to comment.