[2] Bluecrest was founded in 2000 as a hedge fund by Michael Platt and William Reeves who were both previously senior proprietary traders at JPMorgan Chase.

CNBC has referred to Braga as "the most powerful woman in Hedge Funds", earning in excess of $50 million annually.

[4][5] In 2015, Bluecrest returned all outside capital to investors and transitioned into a family office,[2] which is a private investment partnership that manages money only for its partners and employees.

[9] In March 2020, BlueCrest reduced the size of its relative-value trading book, which seeks to exploit anomalies in related securities.

[10] On 8 December 2020, The U.S. Securities and Exchange Commission announced that BlueCrest had agreed to pay $170 million to settle charges arising from inadequate disclosures, material misstatements, and misleading omissions concerning its transfer of top traders from its flagship client fund, BlueCrest Capital International (BCI), to a proprietary fund, BSMA Limited, and replacement of those traders with an underperforming algorithm.