Brevan Howard in Negotiations for Space at St. James’s Square
San Francisco, CA -- (SBWIRE) -- 10/16/2012 -- One of Europe’s larger hedge funds is considering leasing office space in London.
An anonymous insider said Brevan Howard Asset Management LLP is in negotiations to rent 105,000 square feet of space under construction at St. James’s Square in London’s West End. St. James’s Square is home to several private clubs, the Chatham House think tank and BP Plc’s headquarters. The project is expected to be completed by late 2013.
The company leases 38,000 square feet of space at 55 Baker Street, located about a mile away.
Brevan Howard, which declined to comment, surpassed the performance of most other hedge funds last year, with its assets under management increasing from $2.5 billion to $36.7 billion in the first half of 2012. The firm’s Master Fund, which is valued at more than $25 billion, gained 12% last year.
Its macro hedge funds that trade currencies, bonds, commodities, and interest rates based on international economic trends, declined 7.4% on average in 2011.
In July, Brevan Howard announced it had opened a New York-based investment firm to manage money on behalf of the Master Fund.
The firm’s New York affiliate oversees roughly $800 million, according to a regulatory filing submitted in August.
Alan Howard, 48, founded Brevan Howard with four other traders from Credit Suisse AG in 2002.
In 2010, the firm relocated its headquarters from London to Geneva.
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