Tuesday, 31 March 2015
Last updated 2 hours ago
Nov 30 2010 | 12:48pm ET
A new hedge fund founded by a trio of top Deutsche Bank traders has raised $375 million for its maiden offering.
Libre Max Capital launched its first hedge fund last month as one of the largest new hedge funds of the year, HFMWeek reports. The new fund, Libre Max Partners, and an offshore version invest primarily in securitized credit products.
The New York-based firm boasts Deutsche Bank's former head of global markets, Fred Brettschneider, and former head of asset-backed securities trading, Greg Lippman, at the helm. The fund also features a smattering of other Deutsche Bank veterans, including Eugene Xu, Lippman's quantitative specialist who earned a cameo in author Michael Lewis's book, The Big Short, deal-structuring specialist Brian Haklisch and asset-backed securities trader Jordan Milman.
Libre Max charges 2% for management and 20% for performance. There is a $5 million minimum investment requirement with a one-year soft lockup—early redeemers will pay a 5% fee. After the lockup, the funds offer quarterly liquidity with 90 days' notice.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…