Brevan Howard Asset Management has launched its first hedge fund managed from New York.
The European hedge fund giant opened a base in the Big Apple last year, hiring, among others, a team led by Deutsche Bank's former chief investment adviser, Vinay Pande. Now, a year after Pande's move to Brevan, he's managing his first stand-alone fund at the firm, the Strategic Macro Fund.
The new fund trades a wide variety of asset classes, including equities, bonds, interest rates, foreign exchange and commodities, Bloomberg News reports. Brevan Howard seeded the vehicle with money from its $27.9 billion flagship Master Fund; Pande's team had already been managing $300 million for that fund.
Brevan Howard now employs 28 people in New York. Among them are Pande team members Miguel Costa, Gerald Lucas and Yang Tang. Costa and Lucas are also Deutsche Bank veterans.