Alan Howard, billionaire and Brewan Howard Asset Management hedge fund co-founder, invested heavily in cryptocurrencies last year and is planning to put more money in digital assets and blockchain technologies, Bloomberg quotes people with knowledge of the matter as saying.
However, according to the source, Brevan Howard does not trade cryptocurrencies. Although other partners at the hedge fund firm have independently made similar investments, the investments are separate from the $9.1 billion hedge fund firm.
Howard, 54, has already hired at least one person to work for him on initiatives in digital assets and plans to hire more. He could make private-equity style investments in blockchain companies and may participate in initial coin offerings, said the people.
Brevan Howard’s investment in cryptocurrencies comes against the background of the hedge fund’s worst ever annual performance last year.
Some big-name cryptocurrency enthusiasts include former macro fund manager Mike Novogratz and billionaire investors Mark Cuban and Peter Thiel.