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.

Joseph Oughourlian

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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