Mizuho to buy hedge fund research firm Eurekahedge

TOKYO, March 3 Thu Mar 3, 2011 1:40am EST

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TOKYO, March 3 (Reuters) - Mizuho Financial Group (8411.T) said on Thursday it has agreed to buy hedge fund research firm Eurekahedge.

Mizuho, Japan's second-largest bank, is seeking to expand its asset management business.

The bank did not disclose terms of the deal, but a source said its core unit Mizuho Corporate Bank has agreed to pay $20-30 million to acquire a 95 percent stake in the Singapore-based firm from the owner. (Reporting by Taiga Uranaka; Editing by Michael Watson)

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