Fund launches & closures

Brevan Howard rolls out standalone commodity trading fund

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Brevan Howard, the $25 billion global macro hedge fund group led by Alan Howard, has rolled out a new standalone version of the commodity trading strategy used in recent years on its flagship macro fund.

Managed by London-based partner Stephane Nicolas, the new Brevan Howard Commodity Strategies fund was launched in March with initial assets of $200 million, but with capacity up to $1 billion in the standalone version.

Nicolas has been with Brevan since 2004, and is understood to have a very successful five-year track record as a trader with the firm. He deploys a discretionary and mostly