Maverick Battered In August, Loses 11%

Sep 14 2011 | 1:23pm ET

Add Maverick Capital Management to the list of August's hedge fund victims—and add it near the top of that list.

The New York-based firm, like many hedge funds, was hard hit by the market swoon at the beginning of August. But unlike many of its peers, it failed to recoup any of its losses, with its flagship ending the month down as much as it had been near the beginning.

That fund lost 11% last month, leaving it down between 10% and 12.3% on the year, Reuters reports. Another, more aggressive, Maverick fund lost 23% on the month.

Among the culprits for the Maverick bloodbath are Chinese Internet company Youku.com, which Maverick owns about 8% of and which is down 41% this year, Citigroup, down 43%, and First Solar, down 34%.


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Sponsored Content

Editor's Note