BlueCrest’s Leda Braga is to leave the USD27bn hedge fund operation to separately run her USD8.3bn systematic fund BlueTrend, plus the smaller BlueMatrix fund, under a new company called Systematica Investments.
Systematica Investments will be majority-owned by Braga and her team, with BlueCrest holding a minority economic interest. Braga’s 100-strong team will continue to be based in Geneva. The move will allow Braga and her team to concentrate on developing systematic trading strategies with competitive fee structures.
BlueCrest founder Mike Platt will continue to oversee the company’s remaining USD17.8bn of AuM, including the AllBlue and BlueCrest Capital International funds.
