Hutchin Hill Launches Credit Hedge Fund

Jul 12 2012 | 10:54am ET

One of the hedge funds that harpooned JPMorgan Chase's "London Whale" has launched a credit hedge fund.

Hutchin Hill Capital rolled out its Liquid Credit Strategy this month with $100 million from a British pension fund. The new fund employs the same long/short credit strategy that is one of the seven that make up its flagship multi-strategy fund.

"Given the continued uncertainty around the Spanish banking sector bailout and [Prime Minister Mario] Monti's government in Italy, we are looking to take advantage of panicked short covering into [last month's European] summit by selectively entering new shorts," Hutchin Hill said in a July 4 letter to investors.

The long/short credit strategy will remain a part of the Hutchin Hill Capital Master Fund. The new Liquid Credit Fund plans to raise only a "limited amount of capital" over the next few months, Dow Jones Newswires reports.

The strategy has returned 2.52% this year after adding 0.1% last month.


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