JHL Capital Earns Double-Digit Returns In ‘08

Jan 22 2009 | 12:23am ET

Chicago hedge fund JHL Capital posted double-digit returns last year betting on secured debt, it told investors.

JHL’s fund returned 17.1% and 18% in its Class A and Class B shares, respectively, according to a Tuesday letter to investors obtained by The New York Times. The firm’s founder, James Litinsky, told investors that it made money on secured debt in companies that it saw as undervalued and unlikely to default in the near-term, including The New York Times Co. itself.

“As bondholders, we are comforted by the fact that the Sulzberger family considers control of the New York Times part of their family heritage,” Litinsky wrote, a sentiment not shared by several hedge funds that own Times stock.

Litinsky also touted his fund’s investment in billboard company Lamar Advertising, another family-owned business.


In Depth

Q&A: Omni Macro Fund Bullish On India, Watching China

Mar 4 2015 | 3:35pm ET

Omni Macro Fund was formed in 2007 by Stephen Rosen, previously a prop trader at...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Managing Diversification And Drawdowns In The “New Normal”

Mar 5 2015 | 2:42pm ET

In 2008-2009 diversification alone failed to provide adequate risk management for...

 

Editor's Note