Mergers & Acquisitions / Joint Ventures

Brevan Howard, CICC near to big fund deal


London-based Brevan Howard is close to boosting its presence in Asia this year through an alliance with the Hong Kong-based CICC Asset Management to establish a fund of hedge funds that would give CICC clients access to the highly successful range of funds and strategies managed by Brevan Howard.

It is understood that, assuming the deal is finally signed, the fund will launch late this year, several months after the July launch of a long/short China-focused fund that CICC and another London-based manager, Sloane Robinson, are also bringing together to the market.

Market sources say the strategy for