Saturday, 28 March 2015
Last updated 15 hours ago
Apr 20 2011 | 2:01pm ET
Subprime mortgage loans took a hit last month, but one top hedge fund investing in them did not.
LibreMax Capital, the hedge fund founded last year by three former top Deutsche Bank traders, returned 0.6% last month, ahead of most industry indices. The $605 million fund rose 4.2% in the first quarter, Bloomberg News reports, behind the broader markets but well ahead of the average hedge fund.
March was the first month in 10 to see subprime-backed bonds lose ground.
LibreMax debuted with $375 million in assets at the end of November. The New York-based fund is helmed by Fred Brettschneider, Greg Lippman and Eugene Lu. Brettschneider was head of global markets at Deutsche Bank and Lippman was head of asset-backed securities trading. Xu was Lippman’s quantitative specialist at Deutsche Bank, earning himself a cameo in author Michael Lewis’s book, The Big Short.
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…