BlueCrest Capital Management
BlueCrest Capital Management is a British-American hedge fund which was founded by British billionaire Michael Platt and American William Reeves in 2000. The New York City-based company has registered offices in Geneva, Singapore, Boston, Connecticut, Toronto, São Paulo, Hong Kong and Jersey. BlueCrest Capital Management is Europe’s third-biggest hedge-fund firm, managing over £30 billion. The firm's employees are estimated to number c.600. "Forbes" estimated Michael Platt's net worth to be US$8 billion in 2019. Investments. In 2014, Bluecrest spun off $8.2bn worth of assets into a new  company, Systematica Investments, run by Bluecrest employee, Leda Braga. "CNBC" has referred to Braga as "the most powerful woman in Hedge Funds", earning in excess of US$50m annually. In 2015, Bluecrest announced its plans to return all outside capital to investors and transition into a private investment partnership that would manage money for its partners and employees. The fund generated returns of 50% in 2016, 54% in 2017, 25% in 2018 when the average hedge fund lost money, and 50% in 2019. In March 2020, BlueCrest reduced the size of its relative-value trading book, which seeks to  exploit anomalies in related securities. The company also cut risk across the firm by about $1 billion. BlueCrest suffered some losses after the sell-off, but the investment fund was up for the year through the close of trading on March 11th.