JWM Partners
JWM Partners was a hedge fund managed by John Meriwether based in Greenwich . The hedge fund was established in 1999 and closed in July 2009.
founding
John Meriwether was already a big name when JWM Partners was founded in 1999, as he founded Long-Term-Capital-Management (LTCM) in 1994, probably the most famous hedge fund of all time. This collapsed in 1998 after sensational gains in previous years and had to be rescued by a consortium of banks. After the failure of LTCM, John Meriwether founded the hedge fund JWM Partners just one year later. The starting capital was $ 250 million (approx. € 229 million). That was little compared to the staggering sums LTCM had on hand.
Employee
Many of the old partners at LTCM also switched to JWM Partners LLC. With Victor Hagnani and Larry Hilibrand, the two most important traders from LTCM were also on board at JWM Partner.
strategy
Because of the similar staffing, the fund's strategy remained similar to LTCM. They continue to rely on arbitrage trading, but tried to keep the risk lower than in the final phase of LTCM.
performance
The fund made profits for several years. Not of the order of magnitude of LTCM, but in 2007 about $ 3 billion was under the management of JWM Partners. In the first quarter of 2008, however, the fund lost 31% in the main fund and thus lost a large part of its capital. This trend continued and when it closed in July 2009 the fund had lost 44% of its capital between September 2007 and February 2009.
Individual evidence
- ↑ Jwm Partners, LLC - Financial Services Firm, Greenwich, CT - Bright Advisor Pages. Retrieved May 1, 2017 (American English).
- ^ JWM Partners: Private Company Information - Bloomberg. Retrieved May 1, 2017 .
- ^ JWM Partners LLC To Shutter Its Doors. Retrieved May 1, 2017 .
- ↑ The Hedge Fund Implode-O-Meter News Pick-ups: Ailing / Watch: JWM Partners LLC - Relative Value Opportunity fund. Retrieved May 1, 2017 .