Brevan Howard Builds Abu Dhabi Outpost Into $10 Billion Hub - Bloomberg
Brevan Howard Asset Management has turned Abu Dhabi into its biggest risk-taking center, marking one of the most aggressive moves among firms that have set up in the city.
The macro-trading investment firm now runs about $10 billion from the emirate’s international financial free-zone, according to people with knowledge of the matter. That’s just under a third of its total assets and more than it manages from London or New York.
Brevan Howard opened its office at the Abu Dhabi Global Market last February and has since grown its local team to more than 80, the people said, asking not to be identified because the details are private. The firm is looking to add an additional floor to accommodate staff scrambling to move, they said.
A spokesperson for Brevan Howard, which manages about $35 billion, declined to comment.
Big-name Brevan Howard portfolio managers moving to Abu Dhabi include Ville Helske and Louis Basger. Members of a team that runs funds under the European Union’s UCITS Directive, including money managers Paul Shanta and Peter Meiklejohn, have also relocated to the emirate.
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