Brevan Howard Acquires Dragonfly Capital’s Crypto Fund

• Brevan Howard Asset Administration has taken over a digital asset fund run by Dragonfly Capital.
• The takeover indicators Brevan Howard’s push into the digital asset house.
• The brand new crypto fund will function below Brevan Howard’s crypto and digital property division.

European hedge fund Brevan Howard Asset Administration is pushing additional into the digital asset house with its takeover of the Liquid Alternatives fund. Liquid Alternatives is a crypto and digital asset fund operated by main crypto funding fund Dragonfly Capital.

In line with a report by Bloomberg, Brevan Howard has entered into an settlement with Dragonfly Capital to imagine management of its long-short crypto fund. $30 billion sturdy European hedge fund will function the Liquid Alternatives fund below its crypto and digital property division, Brevan Howard Digital.

Dragonfly Capital is a outstanding title within the crypto funding house. Its portfolio contains heavyweights like Amber Group, ByBit, Matrixport, Aptos, and MakerDAO amongst dozens of different tasks. The crypto fund in query was based in June 2021 and is presently managed by Kevin Hu, Ashwin Ramachandran, and Lawrence Diao.

Kevin Hu serves because the Liquid Alternatives fund’s Chief Funding Officer. Individuals acquainted with the matter revealed that the fund’s long-short buying and selling technique is according to Brevan Howard Digital’s energetic buying and selling method.

Dragonfly Capital acknowledged in an inner doc that, “After in depth discussions, we determined that Brevan Howard, one of many largest hedge funds on this planet, was the precise long-term house for Kevin and his crew.”

Brevan Howard Digital was arrange in September 2021 and is presently headed by Aron Landy. The fund caters to institutional shoppers in search of publicity to the crypto market via conventional channels. “We provide unconstrained, alpha-centric, and diversified publicity to the wide selection of funding alternatives out there throughout the digital asset ecosystem by way of a multi-manager, multi-strategy method throughout each non-public and public markets,” the agency’s official web site reads.