https://www.bloomberg.com/news/arti...eals-high-leverage-as-firm-recruits-new-money https://www.bloomberg.com/news/arti...bluecrest-said-to-gain-54-in-blockbuster-year Both Bluecrest and Point72 were hedgefunds that converted to family offices (for different reasons). Both are running significant leverage. I get the sense Bluecrest converted specifically so they could use leverage. In the case of Point72, they used to run 3.5x leverage and now they are 8x levered. Not sure what this means: The cost of debt is so low it makes sense for them to borrow rather than to raise equity (in the form of investor capital where the costs are higher). Or the markets have so little opportunity that to get big returns they are increasing their leverage.