BlueCrest Capital Management
Formation2000 (2000)
FounderMichael Platt
William Reeves
Location
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, and elsewhere.[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 600.[4]

It also operates as Bluecrest Recruitment, BlueCrest Inc,[5] BlueCrest Capital Management, Limited, and BlueCrest UK.[6] Until 2014 it was BlueCrest Capital Management, LLP. It has a flagship fund BlueCrest Capital International Master Fund Limited, and a US fund BlueCrest Capital L.P.[6]

Investments

In 2014, Bluecrest spun off $8.2 billion 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 $50 million annually.[7][8]

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.[9][10]

The fund generated returns of 50% in 2016, 54% in 2017,[11] 25% in 2018 when the average hedge fund lost money, and 50% in 2019.[12]

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 11.[13]

On Dec 8, 2020, The Securities and Exchange Commission announced that UK-based investment adviser BlueCrest Capital Management Limited has agreed to pay $170 million to settle charges arising from inadequate disclosures, material misstatements, and misleading omissions concerning its transfer of top traders from its flagship client fund, BlueCrest Capital International (BCI), to a proprietary fund, BSMA Limited, and replacement of those traders with an underperforming algorithm.

References

  1. ↑ "Michael Platt And William Reeves Bio, Returns, Net Worth". Insider Monkey. Retrieved 8 February 2013.
  2. ↑ "Locations".
  3. ↑ Westbrook, Jesse (Dec 2013). "Man Who Said No to Soros Builds BlueCrest Into Empire". Bloomberg. Retrieved 27 August 2014.
  4. ↑ "BlueCrest Capital Management". pensionfundsonline.co.uk.
  5. ↑ "Talent Ticker - Predictive Market Intelligence - BlueCrest". www.talentticker.ai. Retrieved 2022-11-12.
  6. 1 2 "In the Matter of BlueCrest Capital Management, Limited, CORRECTED ORDER APPROVING PLAN OF DISTRIBUTION" (PDF). US Securities & Exchange Commission. 2022-02-18.
  7. ↑ "Leda Braga". equinoxfunds.com.
  8. ↑ Nathan Vardi. "Leda Braga - In Photos: The 40 Highest-Earning Hedge Fund Managers". Forbes.
  9. ↑ 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.
  10. ↑ "Hedge fund firm BlueCrest Capital Management to go private". Reuters. 2015-12-01. Retrieved 2017-08-09.
  11. ↑ "Returns".
  12. ↑ Fletcher, Laurence (29 December 2019). "Ex-hedge fund BlueCrest extends winning run with 50% gain this year". www.ft.com. Retrieved 2019-12-24.
  13. ↑ "BlueCrest Shrinks From Relative-Value Trades Amid Losses, Exits". Bloomberg.com. 2020-03-13. Retrieved 2020-08-07.
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