Brevan Howard, the $30 billion hedge fund group founded by Alan Howard, is shutting down its standalone equity fund following the decision by lead equity partner Fabrizio Gallo to return to the sell-side in a senior role with Bank of America Merrill Lynch.
The standalone Brevan Howard Equity Strategies Fund formed only a small part of the firm’s overall activities – mainly running internal capital, with only limited third-party investment.
The two other traders who worked with Gallo on equity and volatility trading are...