BlueCrest Capital, the multi-strategy hedge fund firm-turned family office run by Michael Platt, is planning a 10% increase in the number of its trading teams by the end of this year on the back of returns trouncing many macro hedge fund firms, according to a report by the Financial Times.

The report cites an unnamed person close to the matter in confirming that the investment firm, which was one of the world's largest hedge fund firms with as much as $36bn in assets at its peak before converting to a family office in 2015, is in talks with 30 portfolio managers across the industry.

According to the FT's source, BlueCrest was up more than 20% last year, after gaining more than 150% in 2022 betting that higher inflation and rates would hit bond values.

The family office, which currently has around 170 investment 'pods', is now looking to add to its macro, commodities and systematic strategies trading teams.

BlueCrest, which employs about 600 people including non-investment staff, operates from offices in several locations including London, New York, Jersey and Singapore.