Brevan Howard has also engaged Colleen Sullivan, the former CEO of CMT Digital, to oversee private and venture capital investments in cryptocurrency.
The hedge fund Brevan Howard, which is based in the United Kingdom, intends to “significantly expand” its bitcoin and digital asset portfolio, according to a recent report from Reuters.
Founder and long-time crypto supporter Alan Howard stepped down from his position as CEO of Brevan in 2019.
Since then, Chief Executive Aron Landy has stated that the company is “commitment to rapidly expanding its platform and offerings in cryptocurrencies and digital assets.”
For the time being, Brevan’s crypto strategy consists of two components. The company is launching a new business division, “BH Digital,” to manage its crypto and digital assets.
It has also hired CMT Digital Chief Executive Colleen Sullivan to oversee private and venture capital investments in the cryptocurrency industry.
Since late 2013, Sullivan has served as the CEO of CMT Digital, a CMT Group branch that specialises on cryptocurrency trading, blockchain investments, and legal/policy engagement in the industry.
She would serve as the chair of an investment committee at Brevan, which would be tasked with developing a new strategy centred on cryptocurrency technology.
Her “exceptional track record in making highly successful crypto venture investments,” according to Landy, will be “will be of tremendous benefit to Brevan Howard clients.”
As seen by Brevan’s crypto strategy under Landy, Howard’s exit appears to have had minimal effect on the firm’s desire for investing in the industry.
Under his direction, the Brevan Howard Master Fund stated that it would deploy 1.5 percent of its assets to cryptocurrency in April, amounting to approximately $84 million.
For his part, Howard has made a number of cryptocurrency investments, including in EOS developer Block.one and ICE-owned digital assets platform Bakkt.
His recent activities include leading a $25 million expansion raise for London-based cryptocurrency services startup Copper.co, as well as investing in the Asian crypto trading platform Kikitrade.
He also holds a 25 percent ownership in One River Digital Asset Management, a hedge fund based in the United States that purchased Bitcoin and Ether worth $600 million in 2020.
