Wednesday, 5 August 2015
Last updated 10 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…