Ex-Deutsche Bank Stars' New Hedge Fund Debuts With $375M

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.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of