Quantitative cryptocurrency hedge fund Strix Leviathan has named former BlackRock chief investment officer Matthew McBrady as head of strategy.
In the new role, McBrady, who has nearly 25 years of experience as an investor and economic policy advisor, will oversee Strix Leviathan’s growth plans. He will also advise cryptocurrency hedge funds on their trading and investment strategies.
From January 2014 to September 2016, McBrady served as Chief Investment Officer of BlackRock’s $1.5 billion multi-strategy fund. Before joining BlackRock, he was Managing Director and Head of Investment Strategy and Risk Management at Silver Creek Capital Management for over four years.
Sadie Raney, co-founder and CEO of Strix Leviathan, aims to leverage McBrady’s experience in building and running “alternative investment strategies” to expand its algorithmic investing and trading models.
McBrady said a set of quantitative strategies for the cryptocurrency market will yield returns in both bull and bear markets. “I look forward to helping the company execute on its strategic plan,” McBridey said in an Oct. 25 statement.
In August, former BlackRock managing director Martin Bednall left the company to join cryptocurrency fund Jacobi Asset Management as CEO. In June 2021, Mary-Catherine Lader, former managing director of BlackRock and global head of sustainability at Aladdin, joined Uniswap Labs as chief operating officer.
Crypto hedge funds struggled in 2022, with corrections wiping nearly $2 trillion off market cap. In June, Three Arrows Capital went into liquidation. However, funds are now starting to flock to crypto assets again: According to a report by the Alternative Investment Management Association, 67% of hedge funds investing in crypto assets plan to increase their investments by the end of 2022.
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