Friday, 19 September 2014
Last updated 1 hour ago
Jul 15 2013 | 9:44am ET
Former Citigroup trader Sutesh Sharma has launched his Portman Square Capital hedge fund with under $100 million—far below his initial target of $500 million.
Sharma scaled back the target in March, reports Bloomberg, citing two people with knowledge of the situation.
Portman Square uses capital structure arbitrage and volatility arbitrage trading to profit from pricing differences between related securities. The fund is up 3.6% since opening in May, according to Bloomberg.
Sharma was the co-founder—with Vikram Pandit—of Old Lane Partners, a hedge fund bought by Citigroup in 2007. Sharma oversaw about $2 billion at Citigroup, which he left in 2011.
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.