By Neil Wilson
Capital, the Geneva-based firm headed by former GLG partner
Philippe Jabre, completed an astonishing turnaround in July.
The firm's flagship JabCap Multi Strategy fund, one of the most
prominent victims of the liquidity crunch in Europe during
2008, was up more than 15% for the month, putting it ahead by
close to 60% for the year to date in 2009. After suffering a
painful drop of 36.4% last year, this superior July performance
also meant that the fund had recovered those losses and
more—it is now, for the first time in more than a
year, back above its high-water mark.
The Jabre flagship fund is also back above $2 billion in
assets—with its manager even talking about closing
again to new investors when it reaches $2.5 billion. And it is
far from being alone. Many of the funds hardest hit last year