Drake, Highbridge Post Big Losses In Key Funds

Nov 30 2007 | 11:03am ET

A pair of high-profile New York hedge funds is singing the blues as big losses over the past two months have wiped out their year-to-date gains.

JPMorgan Chase’s Highbridge Capital Management saw its Event Driven Relative Value Fund plunge 12.78% in the first two weeks of November, the New York Post reports, citing figures from HSBC. The $748 million fund was reportedly burned by widening spreads resulting from collapsed leveraged buyouts, and is now down 6.74% year-to-date. The fund had weathered this summer’s credit crunch, and was up 10% in late October.

Meanwhile, Drake Capital Management is smarting after a 10.5% drop in its flagship Global Opportunities Fund last month. The $3.91 billion macro fund, which returned 41% last year, is now down 9.91% this year.


In Depth

Q&A: Executive Recruiter Talks Hedge Fund Closures, Hiring Trends

Dec 19 2014 | 6:58am ET

This year, hedge funds have been closing at a rate not seen since the financial...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.