Friday, 19 September 2014
Last updated 2 hours ago
Mar 20 2008 | 12:59pm ET
A former Lehman Brothers executive is prepping a $1 billion asset-backed securities hedge fund.
David Sherr, who recently left his post as head of Lehman’s securitization group, plans to open One William Street Capital Management by June.
The firm, which is named after Lehman’s former lower Manhattan headquarters, is backed by the investment bank, Bloomberg News reports.
Sherr spent 21 years at Lehman before leaving to found One William.
The fund is venturing into dangerous territory, proposing to trade the very asset- and mortgage-backed instruments that have destroyed several prominent hedge funds—including Sailfish Capital Partners and Peloton Partners—and brought down Bear Stearns.
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.