British Hedge Fund Firm Brevan Howard Shuts Office in Israel

The measure is reportedly due to poor performance across its funds last year

A security guard stands outside 55 Baker Street, the building housing the offices of Brevan Howard Asset Management LP, in London, U.K., on Friday, April 15, 2011
Chris Ratcliffe / Bloomberg

British hedge fund firm Brevan Howard Investment Management has shut its office in Israel, in a move which sources said was aimed at cutting costs following poor performance across its funds last year.

A March 28 filing to the U.S. Securities and Exchange Commission said London and Jersey-based Brevan Howard, one of the biggest hedge funds in Europe, had recently “ceased operation” in Israel, without giving more details.