Tuesday, 21 April 2015
Last updated 5 hours ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…