Hutchin Hill Quits 'London Whale' Trades

Jun 28 2012 | 3:29am ET

Another hedge fund is laying down the harpoon with which it speared JPMorgan Chase.

Hutchin Hill Capital has exited its credit-default swap trades betting against JPMorgan Chase's huge CDS index bets, trades that cost the bank at least $2 billion—although recent reports indicate the loss could be as much as $9 billion. Hutchin Hill is the second hedge fund that jumped on the opportunity offered by JPMorgan's so-called "London Whale," trader Bruno Iksil, known to have closed its positions.

Saba Capital Management was reported to have done so earlier this week.

Another of the hedge funds that profited from JPMorgan's predicament, BlueMountain Capital Management, has been engaged by the bank to help it unwind the disastrous derivatives trades.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note