Hedge fund BlueCrest to float off BlueTrend unit
LONDON |
LONDON (Reuters) – Hedge fund BlueCrest Capital Management is planning to list its BlueTrend division on the London stock market, as part of plans to develop its business further and attract new investors.
BlueTrend trades in over 150 markets globally across a number of key asset classes including currencies, commodities, fixed income and equity indices.
The company added that BlueTrend’s program currently had $13.6 billion of assets under management.
“The proposed listing of BlueCrest BlueTrend is an exciting development for the systematic business, and we welcome the opportunity to open the program to a new investor base,” said Leda Braga, head of BlueCrest’s head of systematic trading.
Dexion Capital is advising BlueCrest on the planned flotation, which will result in a new Guernsey-incorporated company.
(Reporting by Sudip Kar-Gupta; Editing by Myles Neligan)
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