LibreMax Up 5%

Apr 17 2012 | 1:50pm ET

Credit hedge fund LibreMax Partners rose more than 5% in the first quarter.

The New York-based firm, founded in 2010 by three former top Deutsche Bank traders, returned 1.41% in March and is up 5.05% on the year, Dow Jones reports. The firm also told investors that its assets stood at $1.3 billion at the beginning of April.

LibreMax wrote that it cut its investments in prime and "Alt-A" mortgages last month in favor of subprime securities.

"Within subprime, we saw the strongest performance from seasoned mezzanine securities," the firm wrote. "In our opinion, many of these bonds have significant upside to modestly improved housing and economic scenarios."


In Depth

MiFID2 For U.S. Firms: Key Questions Answered

Feb 27 2017 | 4:54pm ET

The January 2018 deadline for implementation of the EU’s mammoth MiFID2 regulations...

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