The BH Digital division, which is part of the Brevan Howard Asset Management structure of billionaire Alan Howard, has raised more than $1 billion for investments in cryptocurrencies, Blockworks writes, citing informed sources.
Brevan Howard Digital Asset Multi-Strategy Fund has lost between 4% and 5% since launching at the beginning of the year, they said. This looks “incredible” against the background of the market decline due to the collapse of Terra and the problems of a number of industry players like Celsius Network and Voyager Digital.
The structure involves algorithmic trading and relative value trades. Funds are distributed between venture investments and cryptocurrencies in the proportion of 10:90%.
BH Digital did not fully utilize the raised funds, explaining this by “insufficient liquidity” in the current phase of the market.
The division plans to increase the target threshold soon AUM $1.5 billion as the team expands and new investment strategies are developed.
The Brevan Howard Digital Asset Multi-Strategy Fund remains open for investments of $5 million or more. Limited partners include some of the largest hedge funds in the world, including those that have historically supported exclusively traditional financial assets.
AUM Brevan Howard Asset Management exceeds $20 billion
Recall that Alan Howard participated in the funding rounds of the custodial service Komainu, its competitor Copper, micropayment service Bottlepay, hedge fund One River Digital, infrastructure company PolySign.
Billionaire-owned Elwood Technologies has previously agreed with Bloomberg to “strategically integrate” the platform into the news agency’s order management system.
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