Zurich reinsurer Swiss Re is planning to divest its minority stake in Brevan Howard Asset Management, which manages more than $30bn in hedge funds.
The sale comes as Brevan Howard continues to struggle with poor performance and billions in investor outflows.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Several firms are in race to buy the 15% stake, unidentified sources told The Wall Street Journal, however it wasn’t clear who the possible bidders were.
The sale is expected to value between $350m and $500m.
Additionally, Swiss Re is also looking to boost investment in other areas, the source said.
Moreover, Brevan Howard has been involved in a legal tussle with co-founder and former star trader Chris Rokos, who left the firm in 2012 and is contesting a noncompete restriction with the hedge fund, twice made more than $1 billion in trading profits in a single year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataFounded in 2002 by former trader for Credit Suisse Alan Howard, Brevan Howard manages assets of $40bn on behalf of more than 700 institutional investors located in 40 countries.
