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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of