Boothbay Vet launches crypto hedge fund company

[ad_1]

The former COO of multi-strategy hedge fund operator Boothbay Fund Management is launching a new company that trades both cryptocurrencies and traditional asset classes, according to two sources with knowledge of the matter.

Peter Bremberg left Boothbay in September to focus on the new business, which he dubbed The Quarry. Details of its structure are still emerging. But early indications are that The Quarry will offer limited partner exposures split roughly between 50% crypto and 50% across traditional asset classes, including stocks, fixed income and commodities.

This type of strategy might appeal to institutional investors who are still hesitant to support fully crypto investing strategies, given the levels of volatility in the emerging market. Bremberg is targeting the second quarter of 2022 for a launch, sources say.

The word is that investing would focus on arbitrage and relative value games. Bremberg declined to comment.

Quarry plans to follow a hybrid model of allocating part of the capital to external managers, while executing certain strategies internally through teams of internal portfolio managers. Indeed, this is the model that Boothbay and his peers such as Schonfeld Strategic Advisors follow.

The quarry would employ separately managed accounts to issue checks to external portfolio managers.

Bremberg had some level of crypto exposure at New York-based Boothbay, which has supported crypto strategies since 2013. He helped develop the program there.

He appears to be in the process of hiring a team for Quarry and is looking for top crypto talent.

Bremberg worked at Boothbay, headed by founder Ari Glass, for almost six years. Prior to that, he held prime brokerage sales positions for BNP Paribas. He also spent time with Northern Arc Capital and Bear Sterns.

The former COO of multi-strategy hedge fund operator Boothbay Fund Management is launching a new company that trades both cryptocurrencies and traditional asset classes, according to two sources with knowledge of the matter. Subscribe for the full article

Access our exclusive contentLearn more

Already registered? Log in

[ad_2]