$55 Billion Marshall Wace Hedge Fund Joins Peers Chasing Crypto Boom

(Bloomberg) --

Marshall Wace is raising a new fund to start betting on digital assets, joining hedge fund peers in targeting the boom in demand for cryptocurrencies and related technologies.

The London-based investment firm, which manages about $55 billion, is in talks with investors to raise capital for a digital finance cross-over strategy, according to a person with knowledge of the matter. The initiative is being overseen by Amit Rajpal, the firm's chief executive office for Asia, said the person, who asked not to be identified because the information is private.

A spokeswoman for the firm declined to comment.

Marshall Wace, which is best known for running liquid hedge fund strategies betting on stocks, is the latest hedge fund firm to break into digital asset investment as the sector gains traction among institutional investors. The firm joins the likes of Brevan Howard Asset Management, and billionaire hedge fund managers Paul Tudor Jones and Marc Lasry.

The fund will focus on investing late-stage capital in unlisted firms engaged in areas such as digital payments, blockchain technology, and stablecoins, the person said. The Financial Times reported the news earlier.

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