Wednesday, 3 June 2015
Last updated 17 hours ago
Aug 15 2012 | 12:10pm ET
Brevan Howard Asset Management has launched a U.S. fundraising effort for its three-year-old currency hedge fund.
The London-based firm, which opened a New York office last month, informed the Securities and Exchange Commission of the capital-raising push in an Aug. 9 private-placement notice. Would-be investors in the US$1 billion Macro FX Fund will have to pony up at least US$1 million.
Macro FX is run by Luke Ding, a former Merrill Lynch foreign exchange trader. The fund debuted in November 2009 and has enjoyed annualized returns of 3.6% since inception.
The private placement keeps Brevan from having to register with the SEC. The firm's new U.S. affiliate is registered with the regulator, but currently invests only on behalf of Brevan's flagship hedge fund.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…