Chris Rokos, a star money maker at his former employer Brevan Howard Asset Management, raised more than $500m from Blackstone Group for his new hedge fund firm, according to two people familiar with the transaction.
Bloomberg News reports that Rokos, who started Rokos Capital Management a month ago, currently oversees more than $1bn, including about $500m of his own wealth. He is looking to grow his fund, which bets on macro-economic trends across assets such as stocks, bonds and currencies, to about $3bn in total, after which he’ll pause in his money-raising efforts.
Blackstone is making a large bet on Rokos in a volatile year that forced several other high profile macro funds to close after losses.
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