Amber fights back after Lehman blow
Fri Oct 23, 2009
The collapse of Lehman almost took Amber Capital with it.
But the firm's partners have worked hard to clean up the
ensuing mess and are now rebuilding for the future
The opening to investors of a new Europe-focused
event-driven fund and the planned launch of an Italian onshore
long/short equity vehicle are two key steps in the rebuilding
of Amber Capital, the New York-based hedge fund founded by
Joseph Oughourlian and Michel Brogard that was almost taken out
by Lehman's collapse.
Amber, an event-driven operation that span out from
Société Générale in 2005 and was
running some $7.5 billion at its peak, was one of the principal
hedge fund victims of Lehman's failure - with around $900
million of its assets of $2.9 billion stuck in the European arm
of the US firm when it went under last September.
ISSN: 2151-1845 / CDC10004H
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