BlueCrest Affiliate to Make IPO

A US arm of Guernsey-based BlueCrest is expected to make an initial public offering, following the trend among major alternative investment businesses to raise capital in public markets. BlueCrest, among the largest hedge fund managers worldwide with $25-billion in total assets, runs BlueTrend, a top commodity trading advisor managed by Leda Braga.

BlueTrend and other BlueCrest funds use quantitative models for trading. But the business that is to list its shares on NASDAQ has an altogether different strategy, more like private equity. Headed by William DeMars, it invests in technology, energy and biomedical firms typically backed by venture capital.

After the initial public offering, this BlueCrest manager is to use its listed shares to acquire the portfolio of Legacy Funds, which has been investing in these sectors since 2005. The strategy is to primarily buy company debt and to a lesser extent equity.

BlueCrest, founded in 2000 by Michael Platt and William Reeves formerly from JP Morgan, is 25% owned by London-listed Man Group.

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2 Responses to “BlueCrest Affiliate to Make IPO”

  1. BlueCrest Affiliate IPO on Track « HedgeFundSmarts Says:

    […] as we reported here in May, the US fund that is expected to go public pursues a very different strategy. It lends to venture […]

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