On March 9, 2015, the Wall Street Journal reported that Brevan Howard Asset Management LLP had purchased a 25% stake in New York-based Penso Advisors LLC.
As part of the deal, Brevan Howard, a $27 billion hedge-fund, will receive a share of fees that Penso collects. Both Penso and Brevan Howard declined to disclose the purchase price. Penso will remain independently managed.
Penso Advisors LLC helps clients hedge their portfolios to protect them from crises and in some cases looks for investment opportunities for them.
To read the news release: please click here.