Key Takeaways
- • Brevan Howard's digital assets arm hired Kevin Hu, a Dragonfly Capital veteran, as a digital portfolio manager based in the firm's Abu Dhabi office, reporting to BH Digital CEO Gautam Sharma.
- • Hu brings three years of experience at BlackRock's Alternative Investment Group and served as general partner and head of liquid strategy at Dragonfly Capital since 2019, positioning him to manage institutional-grade crypto and blockchain investments.
- • Brevan Howard Digital, established in September 2021, manages digital assets for institutional investors and oversees a crypto hedge fund that weathered 2022 market volatility with only a 5% loss despite raising at least $1 billion.
- • The hire signals continued institutional expansion into digital assets; Brevan Howard manages $25 billion in assets under management as of July 2022 and recently participated in a $70 million funding round for Bitcoin protocol Lightning Labs.
- • This appointment represents part of a broader talent acquisition wave for BH Digital, reinforcing the firm's strategy to establish digital assets as a core institutional investment platform.
Summary
Brevan Howard, the traditional finance giant managing $25 billion in assets under management as of July 2022, expanded its digital assets division with the appointment of Kevin Hu as a digital portfolio manager. Hu, a veteran of crypto-focused investment banking firm Dragonfly Capital, will be based in Brevan Howard's newly established Abu Dhabi office and will report to Gautam Sharma, CEO of BH Digital.
Hu's background reflects a deliberate recruitment of seasoned institutional investment talent into the digital assets space. He joined Dragonfly Capital in 2019 as a general partner and head of liquid strategy, a role overseeing institutional-grade cryptocurrency and blockchain investments. Prior to Dragonfly, Hu spent three years as an associate at BlackRock's Alternative Investment Group, providing him with deep exposure to alternative asset management and institutional investor requirements.
Brevan Howard Digital, the firm's dedicated blockchain and digital assets investment arm established in September 2021, has emerged as a significant player in institutional crypto investing. The division launched an ambitious crypto hedge fund that raised at least $1 billion, demonstrating institutional appetite for professionally managed digital asset exposure. Despite significant market turbulence in 2022, Bloomberg reported the fund sustained only a 5% loss, a defensive performance that underscores the value of experienced portfolio management in volatile digital asset markets.
The hire reflects Brevan Howard's sustained commitment to institutional digital assets investing beyond volatility cycles. In April 2023, Dragonfly Capital closed its third fund with $650 million in committed capital for blockchain and crypto investments. That same month, Brevan Howard participated in a $70 million funding round for Lightning Labs, a Bitcoin protocol development firm, further demonstrating active capital deployment into foundational blockchain infrastructure.
Gautam Sharma commented on the appointment: "As we continue to strengthen our position as a leading institutional digital assets investment platform, we are thrilled to have Kevin join our expanding team. Kevin's significant experience investing in digital assets and managing liquid strategies is a welcome addition to our growing pool of exceptional talent." The hire is part of a broader talent acquisition wave at BH Digital, positioning the division to scale institutional digital asset offerings.
Hu's background reflects a deliberate recruitment of seasoned institutional investment talent into the digital assets space. He joined Dragonfly Capital in 2019 as a general partner and head of liquid strategy, a role overseeing institutional-grade cryptocurrency and blockchain investments. Prior to Dragonfly, Hu spent three years as an associate at BlackRock's Alternative Investment Group, providing him with deep exposure to alternative asset management and institutional investor requirements.
Brevan Howard Digital, the firm's dedicated blockchain and digital assets investment arm established in September 2021, has emerged as a significant player in institutional crypto investing. The division launched an ambitious crypto hedge fund that raised at least $1 billion, demonstrating institutional appetite for professionally managed digital asset exposure. Despite significant market turbulence in 2022, Bloomberg reported the fund sustained only a 5% loss, a defensive performance that underscores the value of experienced portfolio management in volatile digital asset markets.
The hire reflects Brevan Howard's sustained commitment to institutional digital assets investing beyond volatility cycles. In April 2023, Dragonfly Capital closed its third fund with $650 million in committed capital for blockchain and crypto investments. That same month, Brevan Howard participated in a $70 million funding round for Lightning Labs, a Bitcoin protocol development firm, further demonstrating active capital deployment into foundational blockchain infrastructure.
Gautam Sharma commented on the appointment: "As we continue to strengthen our position as a leading institutional digital assets investment platform, we are thrilled to have Kevin join our expanding team. Kevin's significant experience investing in digital assets and managing liquid strategies is a welcome addition to our growing pool of exceptional talent." The hire is part of a broader talent acquisition wave at BH Digital, positioning the division to scale institutional digital asset offerings.
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