Citing knowledgeable sources, Blockworks writes that the BH Digital division, which is part of billionaire Alan Howard’s Brevan Howard Asset Management structure, has raised more than $1 billion for investments in cryptocurrencies.

They said the Brevan Howard Digital Asset Multi-Strategy Fund has lost between 4% and 5% since it launched earlier in the year. This looks “incredible” against the backdrop of the market slump due to the collapse of Terra and the problems of a number of industry players such as Celsius Network and Voyager Digital.

The structure includes algorithmic trading and relative value trading. Funds are distributed 10:90% between venture investments and cryptocurrencies.

BH Digital did not fully utilize the funds raised, explaining this with “inadequate liquidity” at the current stage of the market.

Division plans to increase target threshold soon AUM $1.5 billion as the team expands and new investment strategies are developed.

The Brevan Howard Digital Asset Multi-Strategy Fund remains open for investment of $5 million or more. Limited partners include some of the world’s largest hedge funds, including those that have historically only supported traditional financial assets.

AUM Brevan Howard Asset Management exceeds $20 billion

Recall that Alan Howard participated in funding rounds of custodian Komainu, competitor Copper, micropayment service Bottlepay, hedge fund One River Digital, infrastructure company PolySign.

Billionaire-owned Elwood Technologies had previously contracted with Bloomberg to “strategically integrate” the platform into the news agency’s order management system.

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