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BlueCrest Capital Management

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BlueCrest Capital Management
Formation2000; 24 years ago (2000)
FounderMichael Platt
William Reeves
Location
Region
New York City
Geneva
Singapore
Boston
Connecticut
Toronto
Sao Paulo
Hong Kong
Jersey
SubsidiariesSystematica Investments
Employees600
Websitewww.bluecrestcapital.com

BlueCrest Capital Management is a British-American hedge fund which was founded by British billionaire Michael Platt and American William Reeves in 2000.[1] The New York City-based company has registered offices in Geneva, Singapore, Boston, Connecticut, Toronto, São Paulo, Hong Kong and Jersey. [2] BlueCrest Capital Management is Europe’s third-biggest hedge-fund firm, managing over £30 billion.[3] The firm's employees are estimated to number c.600.[4]

Forbes estimated Michael Platt's net worth to be US$8 billion in 2019.[5]

Investments

In 2014, Bluecrest spun off $8.2bn worth of assets into a new company, Systematica Investments, run by Bluecrest employee, Leda Braga. CNBC has referred to Braga as "the most powerful woman in Hedge Funds", earning in excess of US$50m annually.[6][7]

In 2015, Bluecrest announced its plans to return all outside capital to investors and transition into a private investment partnership that would manage money for its partners and employees.[8][9]

The fund generated returns of 50% in 2016, 54% in 2017,[10] 25% in 2018 when the average hedge fund lost money, and 50% in 2019.[11]

In March 2020, BlueCrest reduced the size of its relative-value trading book, which seeks to exploit anomalies in related securities. The company also cut risk across the firm by about $1 billion. BlueCrest suffered some losses after the sell-off, but the investment fund was up for the year through the close of trading on March 11th.[12]

References

  1. ^ "Michael Platt And William Reeves Bio, Returns, Net Worth". Insider Monkey. Retrieved 8 February 2013.
  2. ^ "Locations".{{cite web}}: CS1 maint: url-status (link)
  3. ^ Westbrook, Jesse (Dec 2013). "Man Who Said No to Soros Builds BlueCrest Into Empire". Bloomberg. Bloomberg. Retrieved 27 August 2014.
  4. ^ "BlueCrest Capital Management". pensionfundsonline.co.uk.
  5. ^ Liyan Chen. "Michael Platt". Forbes.
  6. ^ "Leda Braga". equinoxfunds.com.
  7. ^ Nathan Vardi. "Leda Braga - In Photos: The 40 Highest-Earning Hedge Fund Managers". Forbes.
  8. ^ Stevenson, Alexandra; Goldstein, Matthew (2015-12-01). "BlueCrest to Close Hedge Fund and Refund Outside Investors". The New York Times. ISSN 0362-4331. Retrieved 2017-08-09.
  9. ^ "Hedge fund firm BlueCrest Capital Management to go private". Reuters. 2015-12-01. Retrieved 2017-08-09.
  10. ^ "Returns".{{cite web}}: CS1 maint: url-status (link)
  11. ^ Fletcher, Laurence (29 December 2019). "Ex-hedge fund BlueCrest extends winning run with 50% gain this year". www.ft.com. Retrieved 2019-12-24.{{cite web}}: CS1 maint: url-status (link)
  12. ^ "BlueCrest Shrinks From Relative-Value Trades Amid Losses, Exits". Bloomberg.com. 2020-03-13. Retrieved 2020-08-07.{{cite web}}: CS1 maint: url-status (link)
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