BHCU BH Credit. $

 
TIDMBHCG TIDMBHCU 
 
BH Credit Catalysts Limited (the "Company") 
 
  (a closed-ended collective investment scheme established as a company with 
  limited liability under the laws of Guernsey with registered number 52520) 
 
                 Arrangements regarding Brevan Howard and DWIM 
 
                                11 November 2014 
 
The Company notes that the Company's existing manager, Brevan Howard Capital 
Management L.P. ("Brevan Howard") and DW Investment Management LP ("DWIM"), the 
investment management of the Brevan Howard Credit Catalysts Master Fund (the 
"Master Fund") have sent papers to investors in the private feeder funds into 
the Master Fund regarding the proposed transfer of management of the Master Fund 
from Brevan Howard to DWIM. 
 
The Board of the Company is supportive of the proposed assumption by DWIM from 
Brevan Howard of the wider management responsibilities of the Master Fund and 
also of the assumption by DWIM of management responsibilities in relation to 
the Company itself. 
 
The Company is in the process of finalising with DWIM the specific terms on 
which DWIM will act as manager of the Company and the Company will continue its 
investment exposure to the Master Fund. It is anticipated that a meeting of the 
Company's shareholders will be held in December to approve changes to the 
Company's investment policy and name to facilitate the transfer of management 
and that a circular setting out the proposed changes will be sent to 
shareholders towards the end of November. 
 
Enquiries: 
 
Company website:        www.bhcreditcatalysts.com 
 
Northern Trust International Fund Administration Services (Guernsey) Limited 
Andrew Maiden 
Tel: +44 (0) 1481 745368 
 
DWIM 
Jen Drake 
Jennifer.Drake@dwim.us 
 
Brevan Howard 
Daniel Riggs 
Tel: +44 (0) 207 022 6236 
 
 
END 
 

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