BlueCrest Said to Have Built 11-Person Equity Team in Hong Kong

Billionaire Michael Platt’s BlueCrest Capital Management has expanded its Hong Kong equity team to 11 fund managers and analysts, said a person with knowledge of the matter.

The latest addition was Karyo Oh, a fund manager who started this week, said people with knowledge of the matter, who asked not to be identified as the information is private. Ed Orlebar, a spokesman for the firm, declined to comment.

BlueCrest started the Hong Kong office last year to house its Asian equity team, led by former Barclays Plc Managing Director James Chen, and built it up as it opened its $1 billion global equity hedge fund directly to investors earlier this year. The Jersey-based hedge-fund firm is diversifying from its focus on interest rates and from using computers to capture trends in bonds and commodities.

BlueCrest partners borrowed $750 million to start the BlueCrest Equities Strategies Fund in July 2013. The fund’s size increased with a subsequent allocation from its AllBlue Fund, which parcels out capital to other funds overseen by the company, people familiar with the matter said in March.

BlueCrest shut an earlier stock fund, led by a single manager, in 2007 after it lost money that year.

Oh most recently worked for London-based asset-management firm Marshall Wace, starting in 2013 as an analyst in its Hong Kong office, according to a LinkedIn profile and regulatory records. He also worked for Citadel and Owl Creek Asset Management.

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