Brevan Howard Takes 25% Stake In Eric Peters’ One River Hedge Fund
Mon, 10/12/2020 – 12:17
Eric Peters, perhaps better known to our readers as the “Hedge Fund CIO” of One River Asset Management, has long been one of our favorite market commentators dispensing with weekly insightful, actionable and often contrarian points of view which we dutifully distribute to our readership (his most recent thoughts were posted just this past weekend). After being “discovered” by Zero Hedge more than five years ago, he quickly made the media circuit and has frequently appeared on various podcasts and RealVision interviews:
It turns out that one of those reading his missives was none other than iconic macro hedge fund Brevan Howard which according to Bloomberg has acquired a 25% stake in Peters’ hedge fund, which manages $950 million at the Greenwich, Connecticut-based firm and whose clients have committed at least $500 million more to be invested in the next six months.
Of course, it’s not just his lofty prose that has set him aside from his peers: much more importantly, his stellar returns put him in the top percentile of hedge fund returns in 2020:
One River entered the year positioned for a dramatic turn in financial markets, and its Long Volatility Fund returned 50% during the first three weeks of March. That discretionary strategy has since pared gains and is now up 37%. The firm’s Dynamic Convexity Fund, which systematically bets on equity volatility, has returned 41%.
Entering 2020, Peters had long been a believer that central bank suppression of VIX would backfire spectacularly (read “Why Eric Peters Is Betting All On A Volatility Eruption: “A Historic Reversal Is Coming“”), and having had the tenacity to hold on to what until March was a losing position and refusing to follow the hedge fund herd, he ended up generating tremendous profits when the VIX soared to near record highs in March.
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