Canadian investment giant Brookfield Asset Management is expanding its hedge fund footprint into Europe and has already made senior hires to head up its London operation, according to reports.
Brookfield Hedge Fund Solutions, which runs around $1bn in assets, has previously based all its trading teams in New York but is now branching into Europe, according to the Financial Times.
The firm is opening an office in Lonon and has already tapped up William Rushmer, previously a partner and fund manager at Mayfair-based CZ Capital, to run a long-short strategy in UK stocks.
Brookfield manages around $650bn in assets globally and is best known for its real estate, infrastructure private equity investment.
But the firm is looking to now capitalise on a trading strategy focusing on areas such as equity market neutral, where the manager attempts to exploit differences in stock prices, and event-driven, where fund managers take advantage of temporarily mispriced stocks, which have delivered stellar returns for fund managers through the pandemic.
Izzy Englander’s Millennium Management, which has $52bn in assets, delivered its best performance in two decades in 2020, gaining 25.6 per cent.
Ken Griffin’s Citadel, which manages $43bn, gained 26.3 per cent last year, after making 24.5 per cent in 2020.