Monday, 28 July 2014
Last updated 6 hours ago
Oct 17 2008 | 12:02pm ET
For the Barakett brothers, bad news is all in the family.
New York-based Tremblant Capital Group, run by Bret Barakett, brother of Atticus Capital’s Tim Barakett, took a big hit over last with, with three of its funds dropping by double-digits during one of the worst months in the history of the hedge fund industry. The firm’s flagship dropped 19% last month and is down 27.9% on the year, the New York Post reports; its smaller Tremblant Concentrated fund had it even worse, losing 22.3% in September and 40.1% on the year.
Another Tremblant fund, Tremblant-Trident, fell 10% last month and is down 22.3% year-to-date. All told, the losses total about $2.4 billion.
According to the Post, the funds were burned by their equities bet.
Brother Tim’s Atticus recently had to swat down rumors that it was liquidating its two main funds following big losses.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…