One of last years most successful hedge funds imploded Thursday when Peloton Partners put the assets of its $2bn flagship ABS fund up for sale and froze its remaining fund after leveraged mortgage bets left it unable to meet margin calls.
Tim Leslie, one of Moore Capitalâ??s traders is spinning out his hedge fund to create a new $2.5bn - $3bn London-based asset manager in what is likely to be one of the yearâ??s biggest hedge fund launches.
Goldmanâ??s Petershill fund, run by Jonathan Sorrell, son of WPP head Sir Martin Sorrell, has bought just under 20 per cent of Capula Investment Management, a fast-growing $3bn London hedge fund.
SRM Global, the hedge fund that is Northern Rockâ??s largest shareholder, has fallen almost 50 per cent since it raised $3bn (£1.5bn) in Europeâ??s biggest hedge fund launch in 2006, according to investors, as a series of big bets turned sour.