Cryptocurrency Hedge Fund Brevan Howard Tops $1 Billion In Assets

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. This looks “incredible” against the background of the market decline due to the collapse of Terra and the problems of many 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 raise its $1.5 billion AUM target soon as the team expands and develops new investment strategies.

The Brevan Howard Digital Asset Multi-Strategy Fund remains open for investments of $5 million. Limited partners include some of the world’s most significant hedge funds, including those that have historically supported exclusively traditional financial assets.

AUM Brevan Howard Asset Management exceeds $20 billion