News round-up: Brevan Howard hires crypto expert to lead digital unit; Federated Hermes adds to impact offering with AP1-backed credit fund; Vistra to acquire Australian corporate governance business; People moves

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Brevan Howard hires crypto expert to lead digital unit

Brevan Howard Asset Management has recruited Colleen Sullivan, the co-founder of CMT Digital, to lead its new crypto investment arm.

Sullivan will lead the private and venture investment activities of BH Digital, a new division of the firm which will manage cryptocurrency and digital assets.

Sullivan will also chair the investment committee of a new strategy which will focus on the disruptive technologies in the digital asset class.

“Brevan Howard’s belief in the huge diversity of opportunities within the digital asset space and the significance of this to long term macro investors is the reason we are delighted to welcome Colleen to the firm,” said Aron Landy, CEO of Brevan Howard.

“Colleen’s exceptional track record in making highly successful crypto venture investments will be of tremendous benefit to Brevan Howard clients and underscores the firm’s commitment to rapidly expanding its platform and offerings in cryptocurrencies and digital assets.”

Prior to her appointment at Brevan Howard, Sullivan co-founded and was CEO of CMT Digital, a division of the CMT Group, which focuses on crypto asset trading and blockchain technology investments.

Brevan Howard said the creation of BH Digital was intended to “significantly” expand the firm’s involvement in cryptocurrencies and digital assets.  Earlier this year, the $20bn hedge fund began investing in digital assets for its clients via the launch of a liquid token, value oriented fund.

The Brevan Howard Master Fund also announced in May that it would allocate to cryptocurrencies. 

Federated Hermes adds to impact offering with AP1-backed credit fund

Federated Hermes has launched a UCITs fund, seeded by Swedish national pension fund AP1.

The Federated Hermes Climate Change High Yield Credit Fund is the latest impact offering from the manager, and aims to generate long-term, risk-adjusted outperformance by investing in high-yield credit instruments and delivering positive impact that supports a low-carbon future.  

Federate Hermes said the investment process will use a proprietary framework – the Climate Change Impact (CCI) Score – to reflect the progress and impact towards decarbonisation that holdings are making.

The fund will not hold companies where engagement on climate change transition has failed and will exclude controversial sectors and heavy greenhouse gas-emitting issuers that have no desire to change, confirmed the asset manager.

Fraser Lundie, Head of Credit, will be lead manager on the fund working alongside Nachu Chockalingam, Senior Credit Portfolio Manager, as co-manager.

Federated Hermes’ Credit team has a long-standing relationship with AP1, having been appointed in 2017 to manage one of its Global High Yield investment mandates.

“We are pleased to help bring the Climate Change Fund to the market, a fund we have worked intensely on with the Federated Hermes Credit team for the past year,” said Tina Rönnholm, Portfolio Manager responsible for external High Yield investments at AP1. “Having divested from fossil fuels throughout our portfolio last year, our ambition now and going forward is to contribute to getting absolute emissions down significantly in the real economy.

“Providing financing to facilitate a much-needed transition across sectors is an example of the actions we undertake in order to meet our net zero target we are determined to achieve.  We recognize the need for collaborative action and financing and by helping launch this fund vehicle, we hope fellow investors will join us in driving change.“    

People moves: SBAI, Polar Capital & Ocorian

The Standards Board for Alternative Investments (SBAI) has appointed Paula Volent, Vice President and Chief Investment Officer of The Rockefeller University, to its Board of Trustees. Volent is responsible for the oversight and management of Rockefeller’s $2.5bn endowment. Prior to joining Rockefeller in August 2021, Volent was the Chief Investment Officer and Senior Vice President at Bowdoin College for over two decades.

Activist manager Polar Capital has hired Adam Schneider as Director of Business Development to its North American sales team, covering the Mid-West of the US. He joins Polar Capital after three years at asset management giant Nuveen, where he managed global consultant relations as an associate vice-president. 

Garrett Breen has left J.P Morgan to join fund administrator Ocorian as its Head of Global Funds. Based in Ocorian’s Dublin office, Breen, will lead the transformation of Ocorian’s funds business, leaning on his experience in the fund admin space. At J. P. Morgan, Breen led the hedge fund services business as Managing Director and Head of Hedge Fund Services, and prior to that was a founder of Quintillion where he was Head of Fund Administration.

Vistra to acquire Australian corporate governance business

Fund administrator Vistra is set to expand its Australian footprint with the purchase of Melbourne-based accounting and corporate governance firm Leydin Freyer.

The acquisition, which is subject to FIRB approval in Australia, doubles the size of Vistra’s operations in the country and boosts its presence in both Sydney and Melbourne.

“This transaction significantly diversifies our Australian client base, with the Leydin Freyer ASX-listed clients complementing our existing international and domestic client portfolio, along with our fast-growing alternatives sector,” said Jonathon Clifton, Regional Managing Director, Asia-Pacific, Vistra.

Through our combined strength and expertise, we are able to support a broad range of Australian companies both in their domestic and international growth aspirations.”

Founder and managing director of Leydin Freyer, Melanie Leydin and General Manager, Simon Davis will remain with the business and join Vistra. Leydin Freyer will be rebranded to Vistra upon completion of the transaction.

Stephanie Taylor

Head of Event Content, HFM

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