Rokos Capital Management Granted Regulatory FCA Approval for New Macro Fund

Sep 30 2015 | 6:02pm ET

The new macro hedge fund being prepped by Brevan Howard Asset Management co-founder Chris Rokos has gained regulatory approval from financial regulators in the United Kingdom. 

The approval from the Financial Conduct Authority came on Monday, according to Reuters, and will allow Rokos Capital Management to begin trading in the fourth quarter of this year. The new fund will bet on broad macroeconomic themes.

Rokos reached a settlement earlier this year that voided an agreement with Brevan Howard that would have prevented him from managing external money until 2018. The new fund, in which Brevan Howard reportedly took an interest, will be able to manage upwards of $3 billion, according to Bloomberg. 

Rokos famously made around $4 billion trading macro themes for Brevan Howard between 2004 and 2012. In addition to capital from Brevan and other institutional investors, the new fund is backed by $500 million from Rokos and his partners, and is likely to be among the largest hedge fund launches in London this year. 

Rounding out the Rokos senior team is a group of executives hired earlier this year, including former Nomura chief European economist Jacques Cailloux, former Goldman Sachs Asia Pacific macro head Stuart Riley, and former Brevan Howard colleague Borislav Vladimirov.

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