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A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as short selling, leverage, and derivatives. Financial regulators generally restrict hedge fund marketing to institutional investors, high net worth individuals, and accredited investors.
Long-Term Capital Management L.P. (LTCM) was a highly-leveraged hedge fund. In 1998, it received a $3.6 billion bailout from a group of 14 banks, in a deal brokered and put together by the Federal Reserve Bank of New York.
Myron Samuel Scholes is a Canadian-American financial economist. Scholes is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, Nobel Laureate in Economic Sciences, and co-originator of the Black–Scholes options pricing model. Scholes is currently the chairman of the Board of Economic Advisers of Stamos Capital Partners. Previously he served as the chairman of Platinum Grove Asset Management and on the Dimensional Fund Advisors board of directors, American Century Mutual Fund board of directors and the Cutwater Advisory Board. He was a principal and limited partner at Long-Term Capital Management and a managing director at Salomon Brothers. Other positions Scholes held include the Edward Eagle Brown Professor of Finance at the University of Chicago, senior research fellow at the Hoover Institution, director of the Center for Research in Security Prices, and professor of finance at MIT's Sloan School of Management. Scholes earned his PhD at the University of Chicago.
John William Meriwether is an American hedge fund executive.
D. E. Shaw & Co., L.P. is a multinational investment management firm founded in 1988 by David E. Shaw and based in New York City. The company is known for developing complicated mathematical models and sophisticated computer programs to exploit anomalies in the financial market. D. E. Shaw & Co. manages $55 billion in AUM, $35 billion of which are alternative investments and the remaining $20 billion long-oriented investments. In 2018, Institutional Investor reported that among hedge funds, D. E. Shaw & Co. had delivered the fifth-highest returns in the world since its inception.
Alfred Winslow Jones was an Australian investor, hedge fund manager, and sociologist. He is credited with forming the first modern hedge fund and is widely regarded as the "father of the hedge fund industry."
Soros Fund Management, LLC is a private American investment management firm. It is currently structured as a family office, but formerly as a hedge fund. The firm was founded in 1970 by George Soros and, in 2010, was reported to be one of the most profitable firms in the hedge fund industry, averaging a 20% annual rate of return over four decades. It is headquartered at 250 West 55th Street in New York.
Tiger Management Corp., also known as "The Tiger Fund", is an American hedge fund and family office founded by Julian Robertson. The fund began investing in 1980 and closed in March 2000/01. It continues to operate today in direct public equity investments and seeding new investment funds.
When Genius Failed: The Rise and Fall of Long-Term Capital Management is a book by Roger Lowenstein published by Random House on October 9, 2000. The book puts on an unauthorized account of the creation, early success, abrupt collapse, and rushed bailout of Long-Term Capital Management (LTCM). LTCM was a tightly-held American hedge fund founded in 1993 which commanded more than $100 billion in assets at its height, then collapsed abruptly in August/September 1998. Prompted by deep concerns about LTCM's thousands of derivative contracts, in order to avoid a panic by banks and investors worldwide, the Federal Reserve Bank of New York stepped in to organize a bailout with the various major banks at risk.
Citadel LLC is an American multinational hedge fund and financial services company. Founded in 1990 by Kenneth C. Griffin, it has more than US$50 billion in assets under management as of May 2022. The company has over 2,600 employees, with corporate headquarters in Miami, Florida, and offices throughout North America, Asia, and Europe. Founder, CEO and Co-CIO Kenneth C. Griffin owns approximately 85% of the firm.
An alternative investment is an investment in any asset class excluding stocks, bonds, and cash. The term is a relatively loose one and includes tangible assets such as precious metals, collectibles and some financial assets such as real estate, commodities, private equity, distressed securities, hedge funds, exchange funds, carbon credits, venture capital, film production, financial derivatives, cryptocurrencies, non-fungible tokens, and tax receivable agreements. Investments in real estate, forestry and shipping are also often termed "alternative" despite the ancient use of such real assets to enhance and preserve wealth. Alternative investments are to be contrasted with traditional investments.
Victor Haghani is an Iranian-American founder of Elm Wealth, a research-driven wealth advisor and manager. Elm uses index-tracking funds to invest across the largest asset classes and tries to give its clients broad exposure to global economic growth at the lowest possible cost.
Harbinger Capital Partners is a private hedge fund based in New York City, New York, founded by Philip Falcone. Harbinger is a highly diversified multi-strategy hedge fund. Notable investments have included sub-prime mortgages in the United States and the United Kingdom, such as HBOS, and LightSquared, a wireless communications company that filed bankruptcy in 2012.
Clarium Capital Management LLC is an American investment management and hedge fund company pursuing a global macro strategy. Clarium was founded in San Francisco in 2002 by Peter Thiel, co-founder of PayPal and early investor in Facebook. Clarium's assets under management grew to $8 billion in 2008, after which a series of unprofitable investments and client redemptions resulted in its assets declining to between $300–400 million as of 2011.
Pine River Capital Management L.P. is an asset management firm. The firm trades stocks, fixed income, derivatives and warrants. As of 2018 the company manages approximately US$7 billion across three actively managed platforms: hedge funds, managed accounts and listed investment vehicles to support a number of strategies including interest rates, mortgages, equity long/short, event-driven equity, and global convertible bond arbitrage. The company is currently managed by founder and CEO Brian Taylor and 6 partners.
Element Capital Management is an American hedge fund using a global macroeconomic investment strategy, founded in 2005 by Jeffrey Talpins.
Charles J. Gradante is an American businessman in the hedge fund industry, appearing on television and before the United States Congress in that role. Sovereign Wealth Fund Institute's PensionDaily.com called Gradante "one of Wall Street's most sought after opinion leaders" for financial and economic areas. Gradante is known as one of the first hedge fund industry executives to spark a legendary debate about the risk of hedge funds growing too large rather than focusing on finding investments where they have a competitive edge; he most recently discussed the issue at a conference hosted by The Palm Beach Hedge Fund Association that was covered by Yahoo Finance and CorpGov.
Russell Abrams is an American hedge fund manager and entrepreneur who is the founder of Russellcar, a taxi cab rent-to-own company in Buenos Aires.
Tiger Global Management, LLC is an American investment firm. It mainly focuses on Internet, software, consumer, and financial technology industries.
References
- 1 2 Boyle, Catherine (2008-04-28). "Job cuts at Meriwether hedge fund". The Times. London. Retrieved 2008-09-21.
- ↑ "Meriwether Said to Shut JWM Hedge Fund After Losses (Update2)". Bloomberg. 2009-07-08.
