Tue, Feb 28, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Largest European hedge fund group Brevan Howard to open office in Sao Paulo

Monday, September 20, 2010
Opalesque Industry Update - We have just heard that Brevan Howard Asset Management will open an office in São Paulo, Brazil, to further broaden its global footprint, which includes offices in Europe, the United States and Asia.

The LatAm office will be headed by Mário Mesquita, formerly a Deputy Governor of the Brazilian Central Bank (2006-2010).

Brevan Howard, which manages the famed LSE-listed BH Macro fund, has seen much progress this year.

The firm had to shut down its first UCITS-compliant absolute return bond fund in March after it failed to gain interest from investors. The head of absolute return strategies Philippe Lespinard left in April, one in a string of departures from the firm’s Ucits business. And the head of investor relations James Morrison, left the firm the following month.

But, according to Financial News, the firm has recently picked internal traders to oversee a new Ucits-compliant emerging markets foreign exchange and rates fund, which it launched earlier this month with about $110m.

Brevan Howard launched another new fund; the $200m energy and commodities fund, Commodities Strategies Master Fund Ltd., was launched in March and started accepting outside investors in May.

In June this year, $25.3bn Brevan Howard remained the biggest European hedge fund firm, closely followed by $21.7bn Man and $16.6bn BlueCrest Capital Management, according to EuroHedge data.

Alan Howard, co-founder of Brevan Howard, moved to Geneva in June, joining two other traders. He saw his personal fortune more than double last year (to £875m (€1bn)) according to the 2010 Sunday Times Rich List published in April.

Six more traders were reportedly expected to relocate later this year.

Brevan’s BH Macro Ltd. fund has climbed about 1.15% this year (to end-June), according to data compiled by Bloomberg. The $25bn Master Fund is down by around 2% (to end-July), after returning about 18% in 2009 and 20% in 2008.

It was also reported that all 45 partners at Brevan Howard had shared a bumper payout of £86.1m ($134.3m) at the height of the financial crisis. – B. Gravrand.


See our June-2010 Opalesque Exclusive: Opportunities remain for investors to access high quality listed hedge funds at discount to NAV Source

Also, Ian Plenderleith, chairman of BH Macro, participated in the Opalesque London 2010 roundtable: Source


Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Comment - Mortgages, mergers and hedge fund fees, Fairholme's Berkowitz responds to court ruling against hedge fund suits of Fannie Mae[more]

    Mortgages, mergers and hedge fund fees From Bloomberg.com: Yesterday the U.S. Court of Appeals for the D.C. Circuit handed down an odd decision in a lawsuit over the government's nationalization of Fannie Mae and Freddie Mac. The key issue is what's called the "Third Amendment," the 2012

  2. Investing - Hedge funds continue to chase the herd in record Momentum wager, Marshall Wace bets grocer Sainsbury may need rights offering, Hedge fund net exposure has started to retreat, David Tepper's Appaloosa fund makes a huge buy, The 10,000-mile journey to Short Australia, Skeptical hedge fund investors grill Evan Spiegel about Snap's I.P.O.[more]

    Hedge funds continue to chase the herd in record Momentum wager From Bloomberg.com: Hedge funds can't get enough of momentum - even if it means embracing an investing strategy they hate. Loosely defined as betting on shares that went up the fastest over the preceding nine-to-12 months, h

  3. Opalesque Exclusive: Swiss investors take fund seeding and acceleration into their own hands[more]

    Benedicte Gravrand, Opalesque Geneva: Banque Bonhote, a 200-year old Swiss private bank, last year launched a community of investors - heads of Swiss family and advisory offices and wealth managers - with the aim of co-investing in the kind of managers they wanted to invest in, either by way of s

  4. K2 Advisors : Why We Like Activist Hedge Fund Strategies and Some Thoughts on Alpha[more]

    Matthias Knab, Opalesque: Rob Christian, Senior Managing Director, Head of Research K2 Advisors, Franklin Templeton Solutions, writes on Harvest Exchange: When d

  5. Ex-Navy SEAL backed by Mario Gabelli, Jean-Marie Eveillard and other value giants off to strong start[more]

    From Valuewalk.com: Sententia Capital Management is not your average value focused hedge fund. The fund was founded by Michael Zapata, a former Navy Seal Team 6 Officer and has attracted funding from some of the best-known names in the value space. Mario Gabelli, Jean-Marie Eveillard from First Eagl