Key Takeaways
- • Brevan Howard Digital has acquired Dragonfly's long-short crypto hedge fund, the Liquid Opportunities fund, according to Bloomberg, though the deal had not been confirmed at the time of the original report.
- • Kevin Hu, who managed the fund alongside Ashwin Ramachandran and Lawrence Diao, joined Brevan Howard Digital from Dragonfly Capital in January 2023 and is now chief investment officer of Nova Digital, a Brevan Howard fund based in Abu Dhabi.
- • Ramachandran's LinkedIn profile confirms he left Dragonfly in March 2023, while Diao's account indicates he remains with Dragonfly.
- • Brevan Howard Digital now has a team of more than 60 people, signaling a continued push into digital assets by the traditional macro hedge fund manager.
Summary
Brevan Howard Digital, the digital asset arm of asset manager Brevan Howard, has acquired the Liquid Opportunities fund, a long-short hedge fund run by Dragonfly Capital, according to Bloomberg. The report had not been independently confirmed at the time of publication.
The transaction follows Brevan Howard Digital's January 2023 announcement that Kevin Hu was joining from Dragonfly Capital. Hu managed the fund together with Ashwin Ramachandran and Lawrence Diao. Ramachandran's LinkedIn profile confirms he left Dragonfly this month, while Diao's account indicates he is still with the firm.
Hu is now chief investment officer at Nova Digital, a Brevan Howard fund, and is based in the manager's new office in Abu Dhabi. Brevan Howard Digital now employs more than 60 people, according to the report.
The move is consistent with Brevan Howard's broader digital asset strategy, as the firm expands its crypto and digital assets division to provide institutional investors with access to digital asset strategies.
The transaction follows Brevan Howard Digital's January 2023 announcement that Kevin Hu was joining from Dragonfly Capital. Hu managed the fund together with Ashwin Ramachandran and Lawrence Diao. Ramachandran's LinkedIn profile confirms he left Dragonfly this month, while Diao's account indicates he is still with the firm.
Hu is now chief investment officer at Nova Digital, a Brevan Howard fund, and is based in the manager's new office in Abu Dhabi. Brevan Howard Digital now employs more than 60 people, according to the report.
The move is consistent with Brevan Howard's broader digital asset strategy, as the firm expands its crypto and digital assets division to provide institutional investors with access to digital asset strategies.
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