Saturday, 10 October 2015
Last updated 4 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.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…