Launches & Closures Hedge Funds

Brevan Howard to exploit high yield “sweet spot” with new fund


David Warren’s second vehicle expands the firm’s reach into a hot market.

   David Warren (Photo: Bloomberg)
David Warren is betting investors will listen to his bullish credit calls—and wait a little longer for them to be right.

Warren manages about $4 billion in corporate credit and mortgage and asset backed securities at DW Investment Management in New York, which runs money exclusively for $34.2 billion London-based Brevan Howard Capital Management. He’s adding to that with the March 1 launch of his second vehicle, the Brevan Howard Credit Value Fund.

Unlike the existing Brevan Howard Credit Catalysts fund, the new offering will “seek to deploy