Brevan Howard: Platform Profile

Overview

Brevan Howard is a global alternative-investment platform specializing in global macro and digital assets.

Current first-party scale as of August 1, 2026:

• Team members: 1,000+
• Portfolio managers: 150+
• Global hubs: 9
• CEO: Aron Landy

The brand spans multiple regulated entities.

May fit better for

• institutional global-macro investors;
• qualified private-fund investors;
• investors seeking directional and relative-value macro;
• investors seeking derivatives-focused strategies;
• investors seeking institutional digital-asset exposure;
• allocators comfortable with multi-manager structures.

May fit less well for

• ordinary retail investors;
• users looking for one Brevan Howard legal entity;
• investors seeking one universal minimum;
• users who apply BH Macro listed-fund terms to private funds;
• investors uncomfortable with derivatives;
• investors unwilling to accept digital-asset risk in applicable BH Digital strategies.

Brevan Howard is not one legal adviser

Current U.S. registered adviser:

• US registered adviser: Brevan Howard US Investment Management LP
• CRD: 164537
• SEC number: 801-76800
• SEC registration effective: 2012-06-14

Current fund-manager group entity:

• Group fund manager entity: Brevan Howard Capital Management LP
• CRD: 161292
• SEC file: 802-74971
• SEC registered RIA: No

Brevan Howard Capital Management LP appears as manager/adviser in group private-fund disclosures.

Brevan Howard US Investment Management LP is the current U.S. SEC-registered adviser.

Current U.S.-adviser regulatory AUM is $34.4B

Current regulatory-derived data:

• US registered adviser regulatory AUM: $34.4B
• US registered adviser regulatory AUM as of: 2026-05-26
• Discretionary AUM percent: 100%
• Accounts: 10

Current first-party site does not provide a directly comparable group firm-AUM number in the retrieved public text.

Global macro uses directional, relative-value and derivative trading

Current first-party investment approach:

• Directional trading: Yes
• Relative value trading: Yes
• Derivative trading: Yes

Three stated pillars:

1. Macro Thinking;
2. Trade Structuring;
3. Risk Management.

Trade structuring can emphasize convexity

Current first-party description says the firm seeks convex trades where potential upside meaningfully exceeds defined downside.

Risk controls do not guarantee capital protection

Current first-party materials emphasize:

• risk management;
• portfolio-manager diversification;
• trade structuring;
• stop-loss/risk disciplines.

BH Digital is a dedicated digital-asset division

Current first-party:

• BH Digital: Yes
• Digital assets: Yes
• Blockchain ecosystem: Yes
• Multi strategy: Yes
• 24 7 market support model: Yes

Brevan Howard's digital-asset disclosure specifically identifies:

• extreme volatility;
• valuation challenges;
• liquidity fragmentation;
• cybersecurity risk;
• technology risk.

Digital exposure is product-specific

Global macro products and BH Digital products are distinct.

Current fund minimum references vary

Current public regulatory aggregation based on group private-fund reporting includes:

• Alpha Strategies Master minimum: $10M
• Brevan Howard Master Fund minimum: $10M
• BH MB Macro Master minimum: $5M
• BH Digital Asset Master minimum: $100K
• Private fund reference source period: Aug 2024 Form ADV reporting

The lower BH Digital-related reference is not a managerwide minimum.

The underlying reporting period should remain attached because private-fund terms can change.

Firmwide fees remain undisclosed

Current U.S. regulatory profile reports:

• Asset based fees possible: Yes
• Performance based fees possible: Yes
• Other fee arrangements possible: Yes

Investor enquiries involve classification and KYC

Current Brevan Howard notices describe collection of investor information to meet:

• client classification;
• know-your-customer;
• regulatory obligations.

Assessment

Brevan Howard's review needs legal-entity discipline more than a single headline AUM number.

The current U.S. registered adviser is Brevan Howard US Investment Management LP.

The broader group private-fund manager is Brevan Howard Capital Management LP.

The investment platform itself is clear:

• global macro;
• directional and relative-value trading;
• derivatives;
• a large multi-manager infrastructure;
• a separate institutional digital-asset business.

The universal fee, minimum and group-AUM fields should remain undisclosed unless a current specific source supports them.