Jon Corzine, the former chief executive of bankrupt financial services firm MF Global, is considering starting his own hedge fund, The Wall Street Journal reported Sunday on its online edition, citing people familiar with the matter.
The report said the fund would start with cash from Corzine's personal funds and some outside investors. According to one source, Corzine said he had been speaking with about a half-dozen potential investors, and expected around $150 million in assets under management.
Corzine's plans, however are tentative and could develop or fade in the coming months.
The WSJ.com report also quoted Corzine's lawyer Andrew Levander, as saying that the former MF Global's top official "is not managing anybody's money and has not asked a single investor to put money into a fund."
"He is gratified that others might want to invest with him," Levander added.
Corzine's last firm MF Global filed for Chapter 11 protection in 2011 as worries mounted about its $6.3 billion bet on European sovereign debt, credit rating downgrades, margin calls and news money from customer accounts was used to cover liquidity shortfalls.
Corzine is also former Goldman Sachs co-chairman and a former governor of New Jersey.