Singapore-based hedge fund data and index tracker, Eurekahedge Pte Ltd has entered into a stock purchase agreement with Mizuho Corporate Bank Ltd that sees the Japanese bank acquire a 95 per cent stake. The decision would appear to be a strategic decision by MHCB following the establishment in October 2010 of Mizuho Global Alternative Investors, whose remit is to select and purchase hedge fund products for Japanese institutional investors including private pension funds. MHCB hopes that the purchase of Eurekahedge and the utilization of its “Eurekahedge Fund Index” will “enhance business synergies” among the various securities firms and asset management companies that fall within the Mizuho Financial Group. Eurekahedge CEO Alexander Mearns said that the Index had risen over 220 per cent since the firm began tracking hedge funds in 2000, and that despite some high profile blow ups in recent years he saw 2011 as being a bumper year. “We are incredibly enthusiastic about working with Mizuho Corporate Bank and the team at MGAI,” Mearns said in the official press release, “and utilising our 10 years of hedge fund data and index experience to our mutual benefit.”