Deem Global, a macro hedge fund led by former Brevan Howard manager Asfandyar Nadeem, has grown its assets to about $1 billion. This growth follows double-digit returns since the fund’s start less than three years ago.
The London-based firm raised new capital this year to support its growth. Its main fund, Deem Global Macro, gained 21.3% in the first five months of 2025, according to an investor letter reviewed by Bloomberg News.
A second fund, Deem Global Macro Plus, which takes higher risks with focused bets, soared 78.2% in the same period.
These returns came from bets on a weaker U.S. dollar, short positions in long-term European and U.S. bonds, and equity investments linked to rising tensions between China and the U.S. The firm has mostly realized profits on these trades, the letter noted.
Nadeem, 33, declined to comment.
Reaching $1 billion in assets is a key milestone for hedge funds. It often attracts larger investors who seek to make significant investments. This capital raise comes at a time when single-strategy funds face challenges competing against large multi-strategy firms.
Nadeem worked at Brevan Howard from 2014 to 2019 and was head of global macro special opportunities before leaving. He launched Deem Global in 2022 with about $300 million in initial capital. As the sole risk taker, he focuses on a few macroeconomic themes across different asset classes to achieve strong returns.
Since its launch, Deem Global Macro has delivered an annualized return of about 12%, the letter said. The firm recently hired Charles Akingbehin from Capula Investment Management as director of business development.
