Brevan Howard Capital Management LP has started an investment fund run by a team of former Deutsche Bank AG market strategists in New York, as Europe’s second- biggest hedge-fund firm expands its presence in the U.S.
SAC Capital Advisors LP, the hedge- fund firm led by billionaire Steven Cohen, has agreed to plead guilty to a federal indictment and pay $1.8 billion as part of a multiyear investigation into insider trading.
BlueCrest Capital Management LLP, the $35 billion hedge-fund firm run by Michael Platt, hired a team of former Brevan Howard Capital Management LLP credit traders, two people with knowledge of the situation said.
When Alan Howard set off for a business trip to India as a young Salomon Brothers bond trader in the late 1980s, colleagues advised against drinking local water. When he got back, the buzz on his trading desk was about the huge tab Howard had run up buying cases of Evian water, according to a person who worked with him at the time.
Two Brevan Howard Asset Management LLP credit traders left in recent weeks, as the firm scales back after its biggest hedge fund had the worst monthly loss since 2008 in June, two people with knowledge of the matter said.
Brevan Howard Asset Management LLP, the hedge fund run by Alan Howard, will return about $2 billion to investors in the firm’s biggest fund, keeping a promise to clients to limit the size of the $26.9 billion pool.