Monday, 27 April 2015
Last updated 6 hours ago
Jan 17 2013 | 6:56am ET
LibreMax Capital put up a below-average December—but it was enough to push the New York-based hedge fund above 20% for the year.
LibreMax, whose assets soared to $2.4 billion from less than $1 billion last year, returned 20.8% last year, including 0.94% last month. The 2012 return is in line with big gains posted by other mortgage-focused hedge funds; the average mortgage fund rose 20.3% last year, according to Bloomberg News.
LibreMax, led by former Deutsche Bank traders including Greg Lippmann, put about half of its long portfolio into non-agency residential mortgage-backed securities through much of last year, and began buying commercial mortgage-backed securities, collateralized loan obligations and consumer asset-backed securities later in 2012. It also cut its exposure to subprime mortgages late last year.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…