Hedge fund Brevan Howard has long seemed partial to people who've studied at Imperial College London. Last year the firm hired Luca Masiero, an Imperial graduate and former HSBC quantitative intern. It's also hired a variety of Imperial PhDs and mathematicians. Now, the hedge fund has given £20.1m over eight years to Imperial College Business School so that the school can set up a research centre in financial economics.
Brevan Howard declined to comment on whether the donation means it will be trying to recruit graduates from the new research centre, although we understand that this is not the express purpose of the gift. Nonetheless, it will certainly accentuate the ties between Brevan Howard and Imperial College. Alan Howard, the founder of Brevan Howard, is an Imperial alumnus and his wife Sabine Howard is on the college board. Howard already funds various clean energy-related scholarships at Imperial.
This isn't the first time that a hedge fund has put money into an educational establishment. In 2007 the Man Group and Oxford University founded the Oxford-Man Institute of Quantitative Finance (OMI), with core funding coming solely from Man. Man recruits from OMI, which it says provides, 'a unique opportunity for academics and commercial researchers to work alongside each other on a daily basis.'