Chronically Ill Hedge Fund Shows Sign Of Life
ByBrevan Howard Asset Management is the sick man of Europe’s hedge fund industry. Once a $40 billion behemoth helmed by Britain’s wealthiest hedge fund manager, the firm has wasted away to a sickly $8 billion. Amputating the “Brevan”hasn’t helped either. It’s been managing that shrinking pile of cash for nothing for the better part of two years, and last year firm founder Alan Howard brought the emaciated hedge fund home, where at least it would be allowed to die with dignity.
Still, Howard and the hedge fund’s doctors in London weren’t ready to give up. Another round of extraordinary measures were tried, including the painful removal of its Tel Aviv office and shedding a further couple dozen employees. It was a desperate decision, a Hail Mary, but by God if it hasn’t worked…
Chronically Ill Hedge Fund Shows Sign Of Life
