Brevan Howard Discloses Exit Of Three Partners


Brevan Howard Asset Management, a large global alternative asset manager, disclosed in a regulatory filing that three partners left the firm. The filing dated April 11 was published by the Companies House of the United Kingdom.

A majority of the staff of Brevan Howard are based in UK and Switzerland. The filing showed that Mathew James, Fillippo Cipriani and Stephanie Nicolas left the firm on March 15, March 31, and April 1, respectively.

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The names of the three executives were longer active on UK’s Financial Services register during the date of their departure from Brevan Howard as noted by the Wall Street Journal.

Based on his profile on Linkedln, Mr. James served as senior credit strategist at Brevan Howard. Mr. Nicolas served as manager of the firm’s commodities strategies fund, which was closed last year after suffering a disappointing performance amid a challenging environment.

On the other hand, Mr. Cipriani was a senior trader, emerging markets local fixed income strategy at Brevan Howard.

Brevan Howard performance

Brevan Howard is one of the largest hedge funds worldwide. Last year, the firm recorded its first losing year since its inception in 2003. Its Master Fund posted a total loss of 0.8% in 2014. Its assets under management (AUM) also declined from $36 billion to $27 billion by the end of March.

In January, David Warren’s DW Partners, credit-focused multi-strategy asset manager took over the Brevan Howard Credit Catalysts at Brevan Howard Credit Value funds with combined assets worth $5.8 billion. DW Partners renamed the funds as DW Catalysts and DW Value.

According to the Wall Street Journal, Brevan Howard’s Master Fund generated 2.64% returns since the beginning of this year until April 17. The firm’s multi-strategy funds achieved an average of 3.33% returns during the same period based on  separate data from Prequin.

Brevan Howard acquired a stake in Penso Advisors

Last month, Brevan Howard acquired a 25% stake in Penso Advisors, an advisory firm managing the assets of pension funds, endowments and large investors. Penso Advisors has $3.1 billion AUM. The firm is headed by Ari Bergmann, a derivative specialist.