Brevan Howard has launched a New York-based investment firm, called Brevan Howard US Investment Management.
The new firm, established in June, is registered as an investment advisor with the Securities and Exchange Commission and will begin trading in August with money provided by Brevan Howard Master Fund. According to Bloomberg, the fund will initially trade with $300 million.
The firm announced the creation of the US fund in a note to investors in BH Macro, a closed-ended investment company in Guernsey which invests in the ordinary shares of Brevan Howard Master Fund.
In the same announcement, Brevan Howard said it had begun trading activities in its Sao Paulo office, Brevan Howard Assessoria De Negócios E Administradora De Carteiras. The Brazilian unit is registered as an asset manager with the Securities and Exchange Commission of Brazil, and will advise on a “small capital allocation” from the firm’s master fund.
The Brevan Howard Master Fund is incorporated in the Cayman Islands as an open-ended investment company; it employs an active leveraged trading strategy, mainly in global fixed income and FX.