Greenlight Up 30.6% In ‘09

Jan 5 2010 | 2:38pm ET

The average hedge fund posted positive returns in December. Greenlight Capital did not, but David Einhorn is hardly sweating.

The New York-based firm’s Offshore fund fell an estimated 0.1% last month, reports. But the fund rose 30.6% on the year, erasing 2008’s losses and surpassing its high-water mark.

Greenlight Capital lost 23% in 2008.

Greenlight Capital invests primarily in publicly traded North American corporate debt offerings and equities. Founded in 1996, the $6 billion Greenlight Capital also manages a fund of funds and a private equity fund through its affiliates, Greenlight Masters and Greenlight Private Equity Partners. It also operates Greenlight Capital Re, a property/casualty reinsurer.

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