London-based hedge fund Brevan Howard Asset Management has expanded its presence in the U.S.
Bloomberg Businessweek reported that Brevan Howard has launched a new fund that will be managed by a team of former Deutsche Bank market strategists in New York, including Vinay Pande who previously worked at the bank as a chief investment adviser.
The new fund seeks to combine Pande’s research of what assets should outperform with Brevan Howard’s ability to structure trades and manage risk.
The article also said that Brevan Howard, which first expanded to the U.S. last year when Brevan Howard U.S. Investment Management was set up in New York, has boosted staff in the New York office to 28 people from two in June 2012. It has also been adding new hedge funds after the main fund, which has underperformed in the past 21 months, restricted client investments.
As Europe’s second-largest hedge fund firm, Brevan Howard manages about $40 billion in assets.