Geraldine Sundstrom is leaving Brevan Howard Capital Management LP and the firm is shutting her hedge fund after it lost money amid a rout in emerging markets, according to a person with direct knowledge of the decision.
Brevan Howard Capital Management LP, Europe’s largest closely held hedge-fund firm, plans to bet on the direction of markets in Japan and Europe this year as the billionaire founder, Alan Howard, conceded that 2013 was “disappointing” for returns.
When Larry Robbins was a boy in the Chicago suburbs, his father, Sheldon, worked two jobs and wasn’t around much. If the young Robbins wanted to see him on weekends, he had to travel to Arlington Park, a nearby horse-racing track that his dad ran. During those Saturday visits, his father taught him how to handicap horses. One lesson: Know the horse and the race. Was the track dry or muddy? Did the horse win because he was fast or because the competition was lousy?
When BlueCrest Capital Management LLP founder Michael Platt expanded into stocks this year to compete with Millennium Management LLC and SAC Capital Advisors LLP for traders, he tapped an unusual funding source: his banks.
Brevan Howard Asset Management LLP, the U.K. unit of Europe’s largest closely held hedge-fund firm, paid its partners as much as 60.4 million pounds ($99 million) for the year through March, according to a corporate filing.