Greg Lippmann's LibreMax delivers returns
January 18, 2011
Suzy Kenly Waite
The subprime star’s new firm performed well in its first three months of trading.
Former Deutsche Bank subprime star Greg Lippmann’s launch of LibreMax Capital was one of the most anticipated new funds last year and, so far, he has met expectations. LibreMax Partners, a credit strategy focused on mortgage-backed securities, was up 4.16% from October through yearend—the equivalent of a 17.7% net annualized return. The firm manages $500 million, up from about $400 million when launched.
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