Opalesque Industry Update - Brevan Howard Capital Management LP today announced the proposed listing of a new investment company, BH Credit Catalysts Limited, on the London Stock Exchange. |
Bottom-up catalyst-driven credit trading Style
Experienced Portfolio Management team
Nagi Kawkabani, CEO of Brevan Howard Asset Management LLP, said:
“We believe investors will respond well to this opportunity. The credit market is large and there is not enough risk capital available. Brevan Howard therefore believes that the opportunity set within credit markets for a trading strategy is significant.
The DWIM credit team has generated consistently positive returns (quarter-on-quarter) since April 2008 across a wide range of market conditions. The team’s strategy (applied to BHCC since June 2009) has acted as a diversifier to other credit strategies by demonstrating a low correlation to credit market movements.
As a listed feeder fund of BHCC, BH Credit Catalysts Limited should allow a wider range of investors access to this hedge fund credit strategy.”
The bookrunner to the Company’s proposed initial public offering will be Dexion Capital plc and the sponsor will be PricewaterhouseCoopers LLP.
BREVAN HOWARD CAPITAL MANAGEMENT LP
As at 30 September 2010, Brevan Howard has 332 staff in offices in London, Geneva, Hong Kong, Tel Aviv, Jersey, Washington and Dublin including over 80 investment professionals: 45+ traders, 8 quantitative analysts, 12 economists/research, 4 strategists, 14 market risk specialists.
As at 30 September 2010, Brevan Howard manages US$32.2bn across, inter alia, the following funds: Brevan Howard Master Fund Limited (US$25.3bn) including its $US1.9bn listed FTSE 250 feeder BH Macro Limited; Brevan Howard Asia Master Fund Limited (US$1.7bn); Brevan Howard Equity Strategies Master Fund Limited (US$0.6bn); Brevan Howard Emerging Markets Strategies Master Fund Limited (US$2.6bn); Brevan Howard Strategic Opportunities Fund Limited (US$1.4bn); Brevan Howard Multi-Strategy Master Fund Limited (US$0.6bn); Brevan Howard Credit Catalysts Master Fund Limited (US$1.1bn); Brevan Howard Commodities Strategies Master Fund Limited (US$0.25bn); Brevan Howard Investment Fund I (US$0.4bn); Brevan Howard Investment Fund II – Macro FX Fund (US$0.8bn); Brevan Howard Systematic Trading Master Fund Limited (US$0.3bn); and Brevan Howard Global Opportunities Master Fund Limited a multi-strategy fund whose listed FTSE 250 feeder is BH Global Limited (US$1.0bn). The individual asset under management figures for each of the funds mentioned above do not sum to the total assets under management figure due to cross investments between the funds. Corporate website: www.brevanhoward.com
BREVAN HOWARD CREDIT CATALYSTS MASTER FUND LTD (“BHCC”)