Brevan Howard Asset Management, the billionaire Alan Howard’s BH Digital unit for cryptocurrency investments, has attracted more than $1 billion. Blockworks reports, citing informed sources.
According to them, since its launch at the beginning of the year, Brevan Howard Digital Asset Multi-Strategy Fund has fallen 4% to 5%. This looks “incredible” in the context of the market decline following the Terra collapse and problems for several industry players such as Celsius Network and Voyager Digital.
The structure employs algorithmic trading and relative-value trades. Funds are allocated between venture investments and cryptocurrencies in a 10:90 ratio.
BH Digital did not fully deploy the raised funds, explaining this as “insufficient liquidity” in the current market phase.
The division plans to raise the target AUM to $1.5 billion as the team expands and develops new investment strategies.
Brevan Howard Digital Asset Multi-Strategy Fund remains open to investments of at least $5 million. The limited liability partnerships include a number of the world’s largest hedge funds, which have historically supported exclusively traditional financial assets.
Brevan Howard Asset Management’s AUM exceeds $20 billion.
Earlier, Alan Howard participated in funding rounds for кастодиального сервиса Komainu, its конкурента Copper, сервиса микроплатежей Bottlepay, хедж-фонда One River Digital, инфраструктурной компании PolySign.
Ранее принадлежащая миллиардеру Elwood Technologies договорилась с Bloomberg о «стратегической интеграции» платформы в систему управления ордерами информационного агентства.
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