Sunday, 21 September 2014
Last updated 2 days ago
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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.