Brevan Co-Founder Rokos To Retire

Aug 17 2012 | 12:50pm ET

For the third time in four years, Brevan Howard Asset Management has lost one of its founding partners.

Chris Rokos will retire as an "active partner" of the US$36.7 billion hedge fund and will stop managing money at the firm by the end of the month, Brevan Howard told investors today. Rokos plans to "pursue his personal interests," the firm said, although Rokos said in an internal memo that he hasn't decided what to do next. Reuters reports that he is considering the launch of his own hedge fund.

"I am grateful for the friendships I have made along the way," Rokos wrote to the hedge fund's employees. "I am especially grateful to [Brevan Howard founder] Alan [Howard] for his confidence and guidance through varied and tumultuous markets over our 14 years working together at Credit Suisse and Brevan Howard. The firm has as deep a bench as it has ever enjoyed and I have every confidence that it will continue to thrive."

Rokos' exit leaves only Howard and Trifon Natsis as co-founders still with the firm. Jean-Philippe Blochet left in 2009 and James Vernon last year.

Rokos, who specializes in interest-rate trading, traded for Brevan Howard's flagship Master Fund and had been a big profit-maker for the vehicle. But he reportedly saw his allocation cut last year, which may be an indication that he was losing money.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...