Tekmerion Spins Out of Brevan Howard With $1 Billion Fund

Tekmerion Capital Management is spinning out its macro hedge fund from Brevan Howard Asset Management with commitments of more than $1 billion from other investors.

The investment firm, led by Zachary Squire and Reed Morrissey, will relaunch the fund later this year, a spokesperson said. The spinout is backed by investors including multistrategy hedge fund Engineers Gate and early supporter Michael Novogratz, while Brevan Howard retains an economic interest without contributing money to the initial relaunch.