Brevan Howard

Brevan Howard still lists London as its headquarters, but by early 2023 its Abu Dhabi office in the ADGM had become its largest concentration of assets, an unusual inversion for a European-founded macro firm. Few peers have shifted their centre of gravity to the Gulf so decisively.

Founded in 2002, the firm runs global macro for sovereign wealth funds, pension plans, foundations and endowments. Alongside the traditional macro business it has built BH Digital, a digital-assets platform, and feeds part of its strategy to BH Macro, a London-listed feeder vehicle that gives public markets a window onto the franchise.