Feb 23 (Reuters) - Elliott Management is setting up a company to invest at least $1 billion to buy mining assets globally, the Financial Times reported on Friday, citing people familiar with the matter.

Elliot's new venture, called Hyperion, would be led by Sandeep Biswas, Newcrest Mining's former chief executive, the report added. (Reporting by Kanjyik Ghosh; Editing by Eileen Soreng)