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Brevan Howard Beat Out Man Group as Europe's Biggest HF

Nov 11, 2013
Jing Chen

Brevan Howard has surpassed Man Group as Europe’s largest hedge fund firm.

According to The Hedge Fund Journal’s listing of the 50 largest European hedge funds, Jersey-based Brevan Howard—which manages approximately $40 billion in assets -- is currently the largest hedge fund in the region. Man Group, based in London, was knocked out of the top spot after its assets under management fell to $35.6 billion.

Brevan, which first expanded to the U.S. last year when Brevan Howard U.S. Investment Management was set up in New York, recently launched a new fund that will be managed by a team of former Deutsche Bank market strategists based in New York.

eVestment previously reported that investors redeemed about $11.5 billion in the first half of this year from Man Group, leaving the firm with $52 billion as of June 30. Man had $57 billion in AuM at the end of last year, after it experienced a nearly 60% increase in liquidations in the third quarter of 2012.

BlueCrest Capital Management, BlackRock and Winton Capital Management rounded out the top five spots with 34.22 billion, $28.7 billion and $24.8 billion in assets under management, respectively.

The report estimated that Europe’s top 50 hedge fund managers manage a total of $405 billion in assets.


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