Affiliated Managers Group disclosed it has agreed to buy a majority stake of the equity held by Michael Platt’s BlueCrest Capital Management in Leda Braga’s Systematica Investments. Braga’s venture recently surpassed the assets of her former employer, overseeing $8.8 billion as of Oct. 1, compared with BlueCrest’s $7.9 billion.
Systematica trims ties with BlueCrest
Braga’s venture was spun out of Platt’s firm in January. Platt left JP Morgan Chase to start BlueCrest in 2000, and Braga joined him the following year. BlueCrest was one of Europe’s three biggest hedge funds in the aftermath of the financial crisis. The firm has faded in recent years and sustained billions of dollars in withdrawals after lackluster returns.
British hedge fund manager Michael Platt’s firm was...
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