BlueCrest Capital Management

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BlueCrest Capital Management
BlueCrest Capital Management.svg
Formation2000; 22 years ago (2000)
FounderMichael Platt
William Reeves
Location
Region
New York City
Geneva
Singapore
Boston
Connecticut
Toronto
Sao Paulo
Hong Kong
Jersey
SubsidiariesSystematica Investments
Employees
600
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[edit]

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[edit]

  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)

External links[edit]