Och-Ziff's Levin Turns $2 Billion Profit On Structured Credit Trade

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.


In Depth

Delayed Flash Crash Arrest Highlights Difficulties Detecting Fraud

Apr 23 2015 | 7:19am ET

The five years it took regulators to bring high-profile charges against a UK trader...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Opportunities Ahead: Asian Fixed Income and Currency Markets

Apr 24 2015 | 6:18am ET

For hedge funds focusing on Asia, the policy uncertainty, unclear interest rate...

 

Editor's Note