Chris Rokos’s $3.5 Billion Hedge Fund Said to Profit on Brexit

Chris Rokos, the Brevan Howard Asset Management co-founder who started his own investment firm last year, profited from the global market chaos triggered by Britain’s decision to exit the European Union on Friday, according to a person with knowledge of the matter.

The macro hedge fund, which raised $3.5 billion earlier this year in one of the largest startups in the industry, gained about 3 percent on June 24, the person said, asking not to be identified because the information is private. The gains boost the fund’s returns to about 6 percent this year, another person said. A spokesman for the London-based firm declined to comment.

Rokos, 45, joins his former boss Alan Howard in making money on Friday when the shock vote sent global equities into turmoil and the pound to a three-decade low. Brevan Howard Asset Management LLP’s main $16 billion hedge fund gained 1 percent on June 24, a person said on Tuesday. Peers who follow economic trends to bet across stocks, bonds, commodities and currency markets, lost 0.55 percent on Friday, according to the HFRX Macro Index.

Rokos started Rokos Capital Management in London last year with roughly $1 billion -- about half from his own pocket and the rest from Blackstone Group LP. He made his name and fortune at Brevan Howard, the London-based firm he co-founded in 2002.

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