Brevan Howard Acquires Dragonfly Capital’s Crypto Fund
- Brevan Howard Asset Management has taken over a digital asset fund run by Dragonfly Capital.
- The takeover signals Brevan Howard’s push into the digital asset space.
- The new crypto fund will operate under Brevan Howard’s crypto and digital assets division.
European hedge fund Brevan Howard Asset Management is pushing further into the digital asset space with its takeover of the Liquid Opportunities fund. Liquid Opportunities is a crypto and digital asset fund operated by leading crypto investment fund Dragonfly Capital.
According to a report by Bloomberg, Brevan Howard has entered into an agreement with Dragonfly Capital to assume control of its long-short crypto fund. $30 billion strong European hedge fund will operate the Liquid Opportunities fund under its crypto and digital assets division, Brevan Howard Digital.
Dragonfly Capital is a prominent name in the crypto investment space. Its portfolio includes heavyweights like Amber Group, ByBit, Matrixport, Aptos, and MakerDAO among dozens of other projects. The crypto fund in question was founded in June 2021 and is currently managed by Kevin Hu, Ashwin Ramachandran, and Lawrence Diao.
Kevin Hu serves as the Liquid Opportunities fund’s Chief Investment Officer. People familiar with the matter revealed that the fund’s long-short trading strategy is in line with Brevan Howard Digital’s active trading approach.
Dragonfly Capital stated in an internal document that, “After extensive discussions, we decided that Brevan Howard, one of the largest hedge funds in the world, was the right long-term home for Kevin and his team.”
Brevan Howard Digital was set up in September 2021 and is currently headed by Aron Landy. The fund caters to institutional clients looking for exposure to the crypto market through traditional channels. “We offer unconstrained, alpha-centric, and diversified exposure to the wide range of investment opportunities available across the digital asset ecosystem via a multi-manager, multi-strategy approach across both private and public markets,” the firm’s official website reads.
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