(Bloomberg) Brevan Howard Asset Management is giving full control of a systematic trading hedge fund to David Gorton as billionaire Alan Howard focuses on macro strategies, according to a person with knowledge of the matter. Gorton’s London Diversified Fund Management will take over the $450 million money pool from April 1, said the person, asking not to be identified because the plan is private. The fund is currently managed by a joint venture between Brevan Howard and Gorton. Brevan Howard will have a stake in Gorton’s firm and Gorton will continue to manage some money for the company as part of the agreement, the person said.
Brevan Howard Said to Cede Management of $450 Million Hedge Fund
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