 | |
| Company type | Private |
|---|---|
| Industry | Investment management |
| Founded | 2000 |
| Founders | Michael Platt William Reeves |
| Headquarters | London, United Kingdom |
BlueCrest Capital Management is a British-American investment firm which was founded by British billionaire Michael Platt and American William Reeves in 2000. [1]
Bluecrest was founded in 2000 as a hedge fund by Michael Platt and William Reeves who were both previously senior proprietary traders at JPMorgan Chase. [1] [2]
In 2014, Bluecrest spun off $8.2 billion worth of assets into a new company, Systematica Investments, run by Bluecrest employee, Leda Braga. CNBC has referred to Braga as "the most powerful woman in Hedge Funds", earning in excess of $50 million annually. [3] [4]
In 2015, Bluecrest announced its plans to return all outside capital to investors and transition into a private investment partnership that would manage money for its partners and employees. [5] [6]
The fund generated returns of 50% in 2016, 54% in 2017, [7] 25% in 2018 when the average hedge fund lost money, and 50% in 2019. [8]
In March 2020, BlueCrest reduced the size of its relative-value trading book, which seeks to exploit anomalies in related securities. The company also cut risk across the firm by about $1 billion. BlueCrest suffered some losses after the sell-off, but the investment fund was up for the year through the close of trading on 11 March. [9]
On 8 December 2020, The Securities and Exchange Commission announced that UK-based investment adviser BlueCrest Capital Management Limited has agreed to pay $170 million to settle charges arising from inadequate disclosures, material misstatements, and misleading omissions concerning its transfer of top traders from its flagship client fund, BlueCrest Capital International (BCI), to a proprietary fund, BSMA Limited, and replacement of those traders with an underperforming algorithm. [10]
Paul Tudor Jones II is an American billionaire hedge fund manager, conservationist and philanthropist. In 1980, he founded his hedge fund, Tudor Investment Corporation, an asset management firm headquartered in Stamford, Connecticut. Eight years later, he founded the Robin Hood Foundation, which focuses on poverty reduction. As of April 2022, his net worth was estimated at US$7.3 billion.
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William Huntington Reeves is an American businessman and the co-founder of the hedge fund, BlueCrest Capital Management.
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