Brevan Howard Shuts Hedge Funds Run by Saitta and Basger
- Decision follows restructuring at the macro trading hedge fund
- Alfredo Saitta to leave Brevan Howard, Louis Basger will stay
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Brevan Howard Asset Management has shuttered hedge funds run by Alfredo Saitta and Louis Basger as part of its recent restructuring to cut costs, and following losses on the two traders’ interest rate bets.
Both the funds were sub-scale and expensive to run, people with knowledge of the matter said about the decision. Saitta is leaving Brevan Howard, while Basger will continue to manage money at the firm, the people said, asking not to be identified because the details are private.