BlueCrest Exit Shows Turmoil at Platt’s Hedge Fund
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The departure of the second-biggest money manager from billionaire Michael Platt’s BlueCrest Capital Management LLP is another sign of upheaval for the $27.1 billion firm.
BlueCrest, which thrived after the 2008 financial crisis to grow into Europe’s third-biggest hedge-fund firm, said yesterday that Leda Braga will leave to start her own business, taking almost a third of its assets. Braga, who oversaw computer-driven trading at London-based BlueCrest, said in an interview that she and Platt have been discussing a split “on and off” for some time.