- Dragonfly Capital managed digital asset fund Brevan Howard Asset Management has acquired.
- The acquisition signals Brevan Howard’s push into the digital asset space.
- The new crypto fund will operate under Brevan Howard’s digital and digital assets division.
European hedge fund Brevan Howard Asset Management is pushing into the digital assets space with its acquisition of Liquid Opportunities. Liquid Opportunities is a crypto and digital asset fund managed by leading crypto investment fund Dragonfly Capital.
According to a report by Bloomberg, Brevan Howard has entered into an agreement with Dragonfly Capital to take over control of the long-running crypto fund. The powerful $30 billion European hedge fund will manage the Liquid Opportunity Fund under its digital and digital assets division, Brevan Howard Digital.
Dragonfly Capital is a prominent name in the cryptocurrency investment space. Its portfolio includes heavyweights such as Amber Group, ByBit, Matrixport, Aptos, and MakerDAO among dozens of other ventures. The crypto fund in question was founded in June 2021 and is currently managed by Kevin Ho, Ashwin Ramachandran, and Lawrence Diaw.
Kevin Ho serves as the investment manager for the Liquid Opportunity Fund. People familiar with the matter revealed that the fund’s short-term trading strategy is in line with Brevan Howard Digital’s active trading approach.
Dragonfly Capital stated in an internal document, “After extensive discussions, we determined that Brevan Howard, one of the largest hedge funds in the world, was the right long-term home for Kevin and his team.”
Brevan Howard Digital was founded in September 2021 and is currently chaired by Aaron Landy. The fund caters to institutional clients looking to gain exposure to the crypto market through traditional channels. “We offer unrestricted, alpha-centric and diversified exposure to a broad range of investment opportunities available across the digital asset ecosystem through a multi-manager, multi-strategic approach across both private and public markets,” reads the company’s official website.
The aftermath of Brevan Howard’s acquisition of Dragonfly Capital’s Crypto Fund first appeared in Coin Edition.