2021-9-14 15:22 |
CEO and co-founder of CMT Digital Colleen Sullivan will lead the cryptocurrency investment activities for hedge fund Brevan Howard.
Besides leading the firm’s private and venture investments in crypto, Sullivan will also chair the investment committee for a new strategy focused on crypto technology. She specialized in crypto-asset trading and blockchain technology investments at trading firm CMT.
“Colleen’s exceptional track record in making highly successful crypto venture investments will be of tremendous benefit to Brevan Howard clients and underscores the firm’s commitment to rapidly expanding its platform and offerings in cryptocurrencies and digital assets,” Brevan CEO Aron Landy said.
Additionally, Brevan Howard announced the establishment of BH Digital, a new unit for specifically managing cryptocurrency and digital assets. With the creation of BH Digital, the London-based firm said it aims to expand its reach in the crypto market.
Brevan Howard and cryptoThe new unit is in lieu with the amended approach Brevan Howard is taking to cryptocurrencies this year. For instance, earlier this year, the firm announced it would start by investing up to 1.5% of its $5.6 billion main hedge fund in digital assets. The announcement added that the fund would focus on a wide range of digital assets beyond bitcoin.
Despite being the firm’s first major foray into crypto investing, Brevan Howard had been preparing to do so for some time. Over the last few years, the hedge fund had been developing its digital trading technologies. It was also assessing the sector’s suitability for investors. However, by the end of last year, the firm felt the industry was mature enough to begin investing into.
The hedge fund’s co-founder Alan Howard is a known crypto enthusiast himself, having personally invested in Bitcoin. The firm also recently acquired a 25% stake in One River Asset Management, a $2.5 billion firm with crypto funds backed by Howard
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