BlueCrest Capital Management is a British-American
investment management firm which was founded by British billionaire
Michael Platt and American
William Reeves in 2000.
The firm has office locations in London, Jersey, Singapore and New York.
History
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
JPMorgan Chase & Co. (stylized as JPMorganChase) is an American multinational financial services, finance corporation headquartered in New York City and incorporated in Delaware. It is List of largest banks in the United States, the largest ba ...
.
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.
Transformed to family office
In 2015, Bluecrest returned all outside capital to investors and transitioned into a
family office
A family office is a privately held company that handles investment management and wealth management for a wealthy family, generally one with at least $50–100 million in investable assets, with the goal being to effectively grow and transfer ...
,
which is a private investment partnership that manages money only for its partners and employees.
The fund generated returns of 50% in 2016, 54% in 2017, 25% in 2018 when the average hedge fund lost money, and 50% in 2019.
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.
On 8 December 2020, The
U.S. Securities and Exchange Commission announced that BlueCrest had 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.
The fund generated returns of 153% in 2022, 20% in 2023 and 38% in 2024.
References
External links
*{{webarchive, url=https://web.archive.org/*/http://www.bluecrestcapital.com/, title=BlueCrest Capital Management
Financial services companies of the United States
Financial services companies based in New York City
Financial services companies established in 2000
2000 establishments in New York City
Companies established in 2000
Hedge fund firms in the United Kingdom
American companies established in 2000
2000 establishments in the United States
Companies based in New York City