Leda Braga, founders of Systematica Investments and Affiliated Managers Group Inc. (AMG), has acquired the entire stake of BlueCrest Capital Management in Systematica.
As per Bloomberg News, BlueCrest owner, Billionaire Michael Platt, sold a part of 49% holding of the $13 billion hedge fund company to AMG in 2015 when Braga had initiated a spinoff in Systematica, was holding an undisclosed stake till now. After the latest deal, Leda Braga will have a stake with an increased majority, while AMG will have a minority stake, per a statement Tuesday by the two firms that did not disclose the deal’s financial terms.
Leda brag, who heads the largest hedge fund owned by a woman, said in a statement that in their seven years journey, Systematica had completed the full transition of an independent firm to a partnership with AMG, which was in line with their strategic plan.
This deal also ends the relation between London-based BlueCrest and Geneva-based Systematica.
In 2015 January, Braga had spun out of Platts firm and increased 50% of its assets. Later in 2015, AMG acquired that stake as Systematica launched new strategies such as using computer-driven models to manage the hedge fund.
On the other hand, AMG is known to buy stakes in various investment firms and currently hold $748 billion aggregate asset under management. Its affiliates include AQR Capital Management, Winton, and ValueAct Capital.
A Ph.D. in engineering, Braga, 55, while working in JPMorgan Chase & Co, came in contact with Platt. Platt left JPMorgan and started BlueCrest in 2000, with Braga joining him the following year. Platt returned his clients their money and now runs BlueCrest as his private investment company. At the same time, Braga has turned her quantitative investing company Systamatica into one of the largest in the industry.
Braga’s biggest fund is the Systematic Alternative Markets fund, with $5.8 billion in assets. The fund gained almost 29% in 2021, as per the investor portfolio document seen by Bloomberg. However, her $3.6 billion fund BlueTrend fund gained only 2%.
