Brevan Howard Hedge Fund Sells New Shares

Oct 25 2007 | 7:51am ET

Following its disappointing debut in March, Brevan Howard Asset Management’s publicly-traded hedge fund vehicle has raised an additional US$131 million in a new share offering.

BH Macro, which invests in Brevan’s $15 billion flagship global macro fund—otherwise closed to new investors—said in a note to the London Stock Exchange that it had sold about 8.7 million new shares to investors.

The share sale brings BH Macro closer to the goal it set for itself seven months ago. The firm had hoped to raise about US$1.3 billion in BH Macro’s initial public offering. It fell about US$300 million short.

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