HBK Capital of Texas Records Strong 2010

Jan 25 2011 | 8:39am ET

Dallas-based HBK Capital Management had a strong fourth quarter in 2010—its four multi-strategy funds gained 3.30%, bringing the year-to-date composite performance for the funds to 11.62%.

The firm, which has about $5 billion AUM, attributes its 2010 success to trades in corporate credit, structured credit and equity/futures (quantitative).

Q4 also saw the launch of a new fund, the HBK Quantitative Strategies Fund, with $165 million in capital. HBK told investors it had been close to a full allocation to statistical arbitrage in its Master Fund for a year and decided the time was right to launch a separate vehicle devoted to this strategy.

HBK plans to maintain its “defensive posture” going into 2011, taking advantage of periods of market stress to expand its portfolio.  The firm attracted subscriptions worth $940 million in 2010 and January 2011.

HBK takes its name from the initials from its founder, Harlan B. Korenvaes, a former Merrill Lynch managing director who launched the firm with $30 million in 1991.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of