Monday, 27 April 2015
Last updated 2 days 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…