BlueCrest Internal Fund May Pose Pay Conflict, Albourne Says
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BlueCrest Capital Management LLP, Michael Platt’s $32 billion hedge-fund firm, has a potential conflict of interest over a fund that it runs for the benefit of its partners, according to a report by one of the world’s largest advisers to institutional investors.
Albourne Partners Ltd., whose clients include pension plans, endowments and family offices, issued a report this month that said it recently became aware that BlueCrest has a $1.5 billion internal fund called BSMA Ltd., according to two people with knowledge of the report, who asked not to be identified. BlueCrest said the fund has existed for years to retain talent and the firm has procedures in place to protect against conflicts of interest.