Brevan Howard Launching New Fund To Prove It’s Not Dead

It was a close call, but ‘n Howard’s gonna pull through and procreate.
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Broadly speaking, hedge funds stink right now. They stink badly enough that people are happy to marinate in Jim Simons’ secondhand smoke just for a piece of his less-profitable trades. They stink badly enough that owning the Mets may be preferable to running one. At least, most of them do.

AlanHoward.JorEl

The ones that don’t stink? They’re striking while the iron is hot. Return 20.5% through the first half? Sounds like the perfect time to raise $3 billion. Presumed dead but showing the very barest sign of life? The moment is right for a brand-new fund.

Brevan Howard Asset Management plans to launch a new $750 million (£575.85 million) fund directly managed by a group of traders, the firm’s listed fund company told investors in a monthly shareholder report…. Brevan Howard’s listed hedge fund company, BH Macro Limited, which invests all of its assets in the main $3.7 billion fund, generated its best first-half returns since 2009, at 9.58 percent, the same report, dated July 31, showed….

Brevan’s new hedge fund will launch on Sept. 1, the report said.

Brevan Howard to launch $750 million hedge fund - report [Reuters]
Element Is Raising $3 Billion as Hedge Fund Returns 21% [Bloomberg]

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