Platt's BlueCrest Said To Close Hong Kong Office

Jun 16 2017 | 10:34pm ET

Michael Platt’s BlueCrest Capital Management is closing the Hong Kong office it opened in 2014 as a base for its Asian equity team as it transitions to managing internal capital.

The global hedge fund manager announced in December 2015 that it would revert to a private investment partnership and return about $7 billion of its $8 billion in AUM to focus on managing capital for Platt and employees. Several key executives have since departed the firm, including most recently head of equities trading Christian Dalban and head of Asia equities James Chen, and several have started their own funds. 

BlueCrest has performed well since the decision to return investor capital, gaining nearly 50% last year in what Platt has characterized as an “exceptional” fixed-income trading environment, the Bloomberg article continued. The company was founded in 2000 by Platt and managed $37 billion at the firm’s 2013 peak. 

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