With all the money he's saving on London hotel rooms and taxi fares and donations to his alma mater, Bob Diamond is going back into business with some old friends.

Robert Diamond, who stepped down as head of Barclays Plc last year amid a rate-rigging scandal, is considering backing a firm started by former executives at the bank’s investment unit that was acquired by BlackRock Inc. in 2009, according to a person familiar with the matter.

Diamond, in one of his first moves since resigning after Barclays’s 290 million-pound ($436.2 million) fine for manipulating global interest rates, is in talks to provide capital to Incapture LLC, according to the person, who asked not to be identified because the information isn’t public. The one-year-old firm is planning to start investment strategies including a hedge fund supported by technology it’s developed.

Diamond Said to Weight Backing Barclays Asset Management Alumni [Bloomberg via BW]