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.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...