crypto strategy

Asset Manager Brevan Howard Reveals Crypto Hedge Fund Details in SEC Filing

UK-based asset management firm Brevan Howard has revealed details of its $1 billion crypto hedge fund that has been in the news lately.

$1 Billion Crypto Fund

In a statutory filing with the U.S. Securities and Exchange Commission (SEC), Braven Howard, a global asset manager with $25 billion in assets under management (AUM), provided details on two sub- entities that together raised more than $210 million to reach its $1 billion goal. crypto hedge fund.

Digital Asset Multi-Strategy Fund Ltd raised $184.15 million from four investors, and the minimum acceptable investment was $10 million. Brevan Howard Digital Asset Multi-Strategy Fund LP has raised $29.71 million from six investors, the company said in its Filing with the SEC dated September 6, 2022.

In August, media suggested that Braven Howard’s digital and cryptocurrency investment arm – BH Digital – had raised $1 billion to invest in cryptocurrencies and digital assets.

It is believed that Breven Howard created several sub-entities with consideration for the different tax jurisdictions. Their assets under management will total $1 billion. These sub-entities are open, meaning they can fundraise indefinitely.

One year of BH Digital

BH Digital was launched in September 2021 as the crypto and digital asset investment division of Brevan Howard. Its mandate is to provide institutional investors with access to investment opportunities in crypto, digital assets and blockchain.

Just before its launch, CryptoPotato reported that Brevan Howard plans to roll out a new cryptocurrency division and has appointed Colleen Sullivan to lead the new division.

The asset manager first showed interest in cryptocurrency with an $84 million investment in BTC, ETH and several other digital assets in April 2021. The investment represented 1.5% of the total hedge fund of $5.6 billion from the company and came at a time when inflation fears. were gaining ground amid the US government’s announcement of a $1.9 trillion Covid-19 relief package.

Fund launch schedule

BH Digital’s billion-dollar crypto hedge fund comes at a time when valuations for crypto and blockchain startups have moderated significantly during the recent market turmoil. The asset manager has mostly been on the sidelines during the surge in start-up valuations and has chosen not to compete with top investment funds.

With one of the largest assets under management, BH Digital is ready to support start-ups at attractive valuations.

A study last year found that 98% of hedge fund CFOs plan to invest in digital assets by 2026, and hedge funds will increase their digital asset allocation to 7.2%.

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