Saturday, 25 April 2015
Last updated 9 hours ago
Apr 12 2013 | 10:41am ET
The laurels for biggest hedge fund trade of 2012 appear to belong to Och-Ziff Capital Management's James Levin.
Levin bet $7.5 billion—more than a quarter of the New York-based hedge fund's assets—on structured credit last year, and turned a nearly $2 billion profit on it, The Wall Street Journal reports. Levin's returns accounted for more than half of Och-Ziff's $3.4 billion in trading gains last year.
"It's not a one-man show, but we think he's a star," the New Jersey Division of Investments' Timothy Walsh told the Journal.
While a number of hedge funds made big returns on structured credit last year, few if any made as big or as risky a bet as Levin, who did less hedging than others.
Och-Ziff still has 24% of its assets invested in structured credit.
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…