Wednesday, 28 September 2016
Last updated 8 hours ago
Oct 21 2008 | 9:50am ET
Brevan Howard Asset Management is eyeing North American investors with the listing of a pair of its hedge fund vehicles in Bermuda.
The secondary listings of BH Global and BH Macro on the Bermuda Stock Exchange was designed to increase the funds’ liquidity as well as taking advantage of the Caribbean paradise’s regulatory standards, investor base and time zone, Brevan Howard said. The funds have their primary listing on the London Stock Exchange; no new shares were issued in connection with the secondary listing.
“The Bermuda Stock Exchange listing will increase BH Macro’s profile and will give BH Macro access to a wider range of investors,” Ian Plenderleith, the chairman of the fund, said.
Both of the Brevan Howard vehicles are feeder funds, with BH Macro launching last year and BH Global earlier this year. The former has raised in excess of US$1 billion for the former and US$500 million for the latter.