Mizuho Corporate Bank entered into a stock purchase agreement with the shareholders of Eurekahedge. Pursuant to the agreement, MHCB will acquire 95% of the issued and outstanding ordinary shares, on a fully-diluted basis, of Eurekahedge.

In October 2010, MHCB established Mizuho Global Alternative Investmentsas a wholly owned subsidiary, to select and provide alternative investment hedge fund products for Japanese institutional clients including corporate pension funds and financial institutions.

MGAI and Eurekahedge previously entered into a business alliance agreement and are strengthening their collaborative efforts through joint projects such as the launch of the Japanese version MGAI-EH Newsletter, an analytical report on the hedge fund industry that MGAI issues in collaboration with Eurekahedge.

“The Eurekahedge Hedge Fund Index’s performance has risen over 220% since we have been tracking the industry from 2000 and the size of the industry has grown to US$ 1.7 trillion. Despite some high profile blow ups in the last few years the bulk of the industry weathered the most recent financial crisis rather well and we see 2011 as being a bumper year for the industry both in terms of asset growth and performance,” said Alexander Mearns, CEO of Eurekahedge.

The acquisition of Eurekahedge and the utilisation of the “Eurekahedge Fund Index” will enhance business synergies among asset management companies and securities firms within the Mizuho Financial Group, which will enable the Mizuho Financial Group to provide optimal products and services to better meet its customers’ needs.

“We are incredibly enthusiastic about working with Mizuho Corporate Bank and the team at MGAI and utilising our 10 years of hedge fund data and index experience to our mutual benefit.”