the coming weeks to the banks that rescued his Long-Term Capital Management LP and open his new hedge fund on Dec. 1, a source said.

Mr. Meriwether and five partners are getting help from Deutsche Bank AG, which is raising money in Europe and Asia, excluding Japan, for the new fund, JWM Partners, people familiar with their fund-raising said. The German bank, which participated in the bailout last October, may also invest in the fund, the people said. Spokesmen for the bank and Mr. Meriwether declined to comment.

Several original investors, who asked not to be identified, said they had no plans to invest in the new fund after having lost more than 90% of their money last year. The fund hopes to raise $1 billion.

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