Tuesday, 21 October 2014
Last updated 8 min ago
Jun 20 2008 | 9:54am ET
A former Lehman Brothers trader’s new hedge fund is helping out his old firm.
Rick Rieder left Lehman last month to found R3 Capital Partners in New York. Lehman invested in the new debt strategies fund, and R3 returned the favor by taking some of Lehman’s positions off its hands (and balance sheet).
R3 has bought $5 billion in assets from Lehman, mostly corporate bonds and loans, but also distressed debt and aviation assets. The fund will focus on buying similar assets in the marketplace, according to Rieder, who ran Lehman’s global principal strategies group, focusing on credit arbitrage, aviation finance and private equity.
Among the $5 billion in assets Lehman offloaded on R3 were about $100 million of “Level 3” assets, the hardest to value.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...