Brevan Howard Hires Dragonfly Capital Veteran as Digital Portfolio Supervisor

The digital belongings arm of conventional finance big Brevan Howard has employed a brand new portfolio supervisor, Dragonfly Capital veteran Kevin Hu. He can be primarily based in Brevan Howard’s new Abu Dhabi workplace and can report back to BH Digital CEO Gautam Sharma, in response to a press launch.

Brevan Howard, which had $25 billion in belongings underneath administration as of July, created its Brevan Howard Digital division in September 2021 to offer institutional buyers entry to blockchain-related funding alternatives. Final summer season the agency mentioned it was raising at least $1 billion for a record-breaking crypto hedge fund, and that technique began to emerge by way of filings with the U.S. Securities and Alternate Fee (SEC). Bloomberg reported in December the fund had made it by way of the market volatility with solely a 5% loss.

Hu joined Dragonfly Capital, a crypto-focused funding banking agency, in 2019 as a basic accomplice and head of liquid technique. He beforehand spent three years as an affiliate at BlackRock with the Different Funding Group. In April, Dragonfly closed its third fund, with $650 million in dedicated capital to put money into blockchain and crypto corporations creating “new digital economies.” The identical month, Brevan Howard participated within the $70 million funding spherical for Bitcoin protocol Lightning Labs.

“As we proceed to strengthen our place as a number one institutional digital belongings funding platform, we’re thrilled to have Kevin be part of our increasing workforce. Kevin’s vital expertise investing in digital belongings and managing liquid methods is a welcome addition to our rising pool of outstanding expertise,” Sharma mentioned within the press launch.

Hu is the third current senior rent at BH Digital, following Galaxy Digital veteran Robert Bogucki’s appointment as senior portfolio supervisor within the buying and selling technique and Blockchain.com alum Lewis Tuff, who grew to become the chief expertise officer of BH Digital.

Learn extra: Asset Manager Brevan Howard Reveals Details About Its Record-Setting $1B Crypto Hedge Fund