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HF Consultant Questions BlueCrest Fund

Mar 04, 2014
Jing Chen

A BlueCrest Capital Management fund has been accused of posing a conflict of interest.

Bloomberg reported that hedge fund consultant Albourne Partners issued a report this month which stated that it recently became aware that Guernsey-based BlueCrest has a $1.5 billion internal fund that it runs for the benefit of its partners. Albourne stated concerns that the interests of the internal fund may not align to those of BlueCrest’s investors.

BlueCrest chief financial officer Andrew Dodd explained that the fund has existed for years in an effort to retain talent and the firm has procedures in place to protect against conflicts of interest. Furthermore, he explained to the news outlet that senior partners are required to invest in the fund, which utilizes both internal and external strategies.

Founded by Michael Platt, BlueCrest manages approximately $32 billion in assets. London-based Albourne advises 270 institutional investors.



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