Ex-Harvard Money Manager Is Said to Launch Digital-Currency Fund
Ex-Harvard Money Manager Is Said to Launch Digital-Currency Fund
(Bloomberg) -- Lewis Fellas, a former portfolio manager at Harvard University’s $35.7 billion endowment, is planning a hedge fund that invests in digital currencies such as bitcoin.
Fellas, who left Harvard Management Co. in Boston last year, is launching Bletchley Park Asset Management on Sept. 1, according to a person familiar with the matter. The fund, which is registered in the Cayman Islands, seeks to raise $200 million, according to the person, who asked not to be identified because the information is private.
Fellas is Bletchley Park’s chief investment officer, and Ronnie Potel, a former executive at Morgan Stanley, is managing partner, according to the person and LinkedIn profiles for both men. The fund has been testing arbitrage strategies in the markets for these new currencies, according to the person. HFMWeek reported the fund’s launch on Thursday.
Digital currencies can be used to make transactions electronically and have proliferated with the success of bitcoin, which became the first decentralized cryptocurrency in 2009. Bitcoin, the largest digital tender, this week soared past $4,000 for the first time on growing optimism that faster transaction times will hasten its spread.
Money managers have invested in blockchain -- the technology used for verifying and recording transactions -- and set up funds to speculate in the markets for the currencies.
Lewis was a portfolio manager focusing on Asian equity markets during his tenure at Harvard Management until he departed in June 2016. Prior to joining Harvard in 2014, he was a portfolio manager in Hong Kong at Segantii Capital Management. He also worked as a trader at JPMorgan Chase & Co.
To contact the reporters on this story: Michael McDonald in Boston at mmcdonald10@bloomberg.net, Justina Lee in Hong Kong at jlee1489@bloomberg.net.
To contact the editors responsible for this story: Mary Romano at mromano6@bloomberg.net, Richard Frost at rfrost4@bloomberg.net, Alan Mirabella