One of the founders of hedge fund giant Brevan Howard has set up a family office in London.
Reuters reported that Chris Rokos, who left London-based Brevan last summer, will start managing his own wealth amid tougher regulations for the hedge fund industry. Unlike running a hedge fund, family offices do not require registration with Britain’s Financial Services Authority which makes the latter less of a burden.
Billionaire and hedge fund guru George Soros and activist investor Cark Icahn are some of the industry professionals who converted their hedge funds into family offices.
Brevan Howard, which is Europe’s second-largest hedge fund, manages about $39 billion in assets.