LibreMax Up 1.2% On Subprime Shorts

Sep 13 2011 | 1:49pm ET

Fittingly for the worst month for hedge funds since the depths of the financial crisis, one of August's winners did so with a crisis-era strategy: betting against subprime mortgages.

New York-based LibreMax Capital gained 1.2% last month, Bloomberg News reports. The firm, founded last year by three former top Deutsche Bank traders, credited the gains to its short bets against subprime mortgages, high-yield corporate bonds and stocks.

LibreMax's $653 million flagship is now up 5.1% on the year and 9.5% since its debut in October.

"For the last several months, we have oriented ourselves more defensively, which positioned us well for August's volatility," the firm told investors.

August wasn't all roses for LibreMax; the firm took losses on its housing debt investments.


In Depth

Q&A: Pantheon’s McCrary Says Private Equity Market ‘Robust’

Dec 17 2014 | 8:32am ET

Dennis McCrary is a partner at Pantheon, a private equity firm with $32.2 billion...

Lifestyle

Cohen Donates $1.5M To GOP Governors Association

Dec 10 2014 | 7:13am ET

The Republican Governors Association raised close to $25 million from October 1...

Guest Contributor

Q&A With Daniel Gallancy: Institutional Interest In Bitcoin Is Growing Steadily

Dec 12 2014 | 7:54am ET

Daniel Gallancy is founder and CEO of SolidX, a provider of total return swaps for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.