Sunday, 1 February 2015
Last updated 1 day ago
Oct 4 2010 | 2:46am ET
Two-time hedge fund loser John Meriwether has launched two new hedge funds, hoping that the third time turns out better.
A founder of the legendary and infamous Long-Term Capital Management, which collapsed in 1998, requiring a government bailout, Meriwether has unveiled his JM Advisors Management's global macro strategy. The new fund is available in both onshore and offshore versions, according to regulatory filings.
Going with global macro is something of a change for Meriwether, and for JMAM. The Greenwich, Conn.-based firm was originally slated to run the same relative-value arbitrage strategy used at LTCM and JWM Partners, which Meriwether closed last year after taking a beating during the financial crisis.
JWM Partners lost some 44% over its last two years. Meriwether founded it in 1999, just a year after the spectacular demise of LTCM.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…