Brevan Howard Plans Second Hedge Fund IPO

Apr 28 2008 | 7:42am ET

Listed hedge fund vehicles are not quite the hot property they once were. But Brevan Howard Asset Management plans to launch its second such fund anyway.

The firm said today that it will move forward with the listing of its BH Global fund of hedge funds feeder. The London-based firm plans to raise about US$500 million for the new vehicle.

BH Global, likes its predecessor, BH Macro, will be listed on the London Stock Exchange. The firm may also list BH Global’s U.S. dollar shares on the Dubai International Financial Exchange.

Unlike BH Macro, which invests solely in the Brevan Howard Master Fund, BH Global will invest at least 60% of its assets in four other Brevan Howard hedge funds, with the balance in the Master Fund.

Brevan Howard made its debut on the LSE just over a year ago, raising €770 million for BH Macro, well short of its €1 billion target. The fund raised an additional US$131 million in a sale of new BH Macro shares in October.


In Depth

FINalternatives Survey: We Asked Investment Pros...

Apr 2 2016 | 9:42pm ET

The data from our annual reader survey continues to roll in and provide interesting...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...