Hedge Funds >>>

    Hedge Funds Brief Holiday Quiz

    Match the hedge fund manager with his favorite Thanksgiving dish. Managers: 1. David Einhorn, Greenlight Capital 2. John Griffin, Blue Ridge Capital 3. Julian Robertson, Tiger Management 4. Lee Ainslie, Maverick Capital 5. Glenn Dubin, Highbridge Capital 6. Roy Niederhoffer, RG Niederhoffer Capital Favorite Dish:  1. Wild rice. 2. Creamed onions. 3. Cranberry sauce – “not [...]

    BlackRock to Start ‘Best Ideas’ Credit Hedge Fund

    BlackRock Inc., the world’s largest asset manager, plans to start a long-short global credit hedge fund that would use the best ideas of the firm’s leveraged-finance team, according to a document from Citigroup Inc.’s prime-finance unit. BlackRock’s Fundamental Credit Investors fund will replicate the leveraged-finance portion of its Obsidian Fund, a diversified fixed-income fund, Citigroup said [...]

    Elliott Sold RMBS as Others Bought Last Quarter

    Elliott Management Corp., the New York-based hedge fund founded by billionaire investor Paul Singer, sold residential mortgage-backed securities last quarter as many of its competitor funds were buying. “While we acknowledge that the yield profile of many RMBS bonds compares favorably to other credit products, the absolute yields are very low,” Elliott said in a [...]

    From the Minutes

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    Captrust Seeks Long/Short Equity, MBS Funds

    Captrust Financial Advisors, the Raleigh, North Carolina-based advisory firm with $75 billion in assets under advisement, is searching for a variety of hedge fund strategies for potential client allocations, including sector-specific long/short equity and those invested in mortgage-backed securities. Captrust is searching for long/short equity funds focused on energy, specifically in infrastructure, and health care, Eric Freedman, chief [...]

    Ex-Citadel PM Scherer to Start Mortgage Fund

    Kevin Scherer, a former Citadel LLC senior portfolio manager, plans to start Continuum Investment Management, a hedge fund investing in residential and commercial mortgage debt and asset-backed securities. Scherer, 46, a former managing director at Citadel, where he worked from 2008 to 2011 trading in structured credit, is starting Continuum with three former colleagues with whom he worked [...]

    Ex-Goldman Shorter Birnbaum Said to Gain 30%

    By Kelly Bit and Jody Shenn Josh Birnbaum, the former Goldman Sachs Group Inc. trader who was instrumental in the bank’s bet against the U.S subprime mortgage market in 2007, posted a 30 percent gain this year in his hedge fund, according to a person familiar with the matter. Tilden Park Capital Management LP, based in New [...]

    Bankruptcy & Restructuring Q3 Review

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    Angelo Gordon Gains 20 Percent in CMBS Fund

    Angelo Gordon & Co., the $25 billion firm started by John Angelo and Michael Gordon, posted a 20 percent gain this year in a fund invested in commercial mortgages, according to a letter to investors obtained by Bloomberg. The AG REDI Ltd. fund increased 7.2 percent as “the absence of any major negative surprises out [...]

    Ex-Dalton’s Sherer, Gaughan Start Mortgage Fund

    Todd Sherer and Christopher Gaughan, former managing directors at Dalton Investments LLC, started Illumination Asset Management LLC, a Los Angeles-based mortgage hedge fund, yesterday with $200 million in assets. “It was a chance to set our own course,” Sherer, 41, chief investment officer at Illumination, said in a telephone interview. “When we looked at the opportunity [...]

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