The queen of hedge funds is cutting some ties with her old employer

Hedge fund manager Leda Braga is cutting some ties with her old firm, BlueCrest Capital Management.

Braga spun out her computer-driven firm Systematica Investments from BlueCrest in January.

Now, BlueCrest has agreed to sell most of its stake in her firm to Affiliated Managers Group.

As president of BlueCrest, Braga held the title of female hedge fund manager with the most assets under management.

Systematica recently surpassed BlueCrest in terms of assets under management, Bloomberg reports. As of October 1, Braga oversaw $8.8 billion at Systematica versus BlueCrest's $7.9 billion, according to the report.

Systematica's main fund gained 12.7% in 2014 and is up more than 4% this year, according to The Wall Street Journal.

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