Wednesday, 26 November 2014
Last updated 12 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.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
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