Tekmerion Spins Out of Brevan Howard With One Billion Dollars, Signaling a New Phase for Systematic Macro
Tekmerion is spinning out of Brevan Howard with roughly one billion dollars in capital, reversing its decision to operate in house after less than two years and underscoring the growing appeal of hybrid systematic macro strategies that can operate with greater independence.
The move comes as Brevan Howard continues to streamline its broader platform. The thirty five billion dollar hedge fund firm has been simplifying its structure and consolidating macro risk into its flagship Master Fund. As part of that effort, the firm recently returned capital from a fund run by star trader Fash Golchin, who will now focus exclusively on managing money within the flagship strategy.
Tekmerion’s founders, Squire and Morrissey, originally brought their macro hedge fund to Brevan Howard in 2024, launching it internally as the BH Tekmerion Fund. Before that, the pair had managed a commodity trading adviser strategy affiliated with the firm. Much of their time inside Brevan Howard was spent building out the team, infrastructure, and research framework required to trade at scale within a large institutional platform.
Now, with that foundation in place, Tekmerion is returning to independence.
At the core of the strategy is a data driven, hybrid systematic approach to global macro. The firm blends quantitative models with macro intuition, aiming to capture large regime shifts without the behavioral biases that can affect discretionary traders. As one industry observer put it, strategies that can identify paradigm shifts without emotional interference are particularly well positioned in volatile macro environments.
Brevan Howard co founder Alan Howard, who is best known as a billionaire pioneer of global macro investing, has been an investor in Tekmerion since 2017 and is expected to remain invested following the spinout, according to people familiar with the matter. His continued backing provides both continuity and validation as the firm charts its next chapter.
A key element of the spinout is the involvement of Engineers Gate as a strategic partner. Engineers Gate will provide capital, infrastructure support, and office space to Tekmerion. Founded twelve years ago, Engineers Gate has evolved from a small collection of equity focused quantitative strategies into a diversified investment platform overseeing more than five billion dollars in assets.
Greg Eisner, chief executive officer of Engineers Gate, described Tekmerion as a natural fit, pointing to its data driven and hybrid systematic approach as complementary to the firm’s existing portfolio. The partnership reflects a broader trend of established quantitative platforms supporting specialized macro teams that combine systematic rigor with domain expertise.
The spinout also highlights a structural tension within large hedge fund platforms. While multi strategy firms offer scale, capital, and risk management, some strategies reach a point where independence offers greater flexibility in portfolio construction, risk taking, and organizational design. For Tekmerion, the move suggests confidence that its models and processes are ready to stand on their own.
Beyond the capital and structural implications, the spinout has drawn attention within the quantitative and macro research community. Squire, one of Tekmerion’s founders, is scheduled to speak at QuantVision 2026: Fordham’s Quantitative Conference, where his appearance is expected to focus on systematic macro, data driven regime detection, and how hybrid approaches are reshaping global macro investing.
