One year ago
Stark Investments had begun trading with a new Mortgage
Opportunities Fund to invest in the hot securitized space.
reached close to $100 million by midyear, and in a positive
environment for structured credit the principals decided
to take the profits and liquidate by yearend, a person close to
the fund said. Exact performance information was not
Last year was a difficult time for the firm, which
liquidated its flagship multistrategy funds in the summer (see
here) and dropped from $2.4 billion at the start of 2012 to
below $1 billion as of early 2013, according to the
Absolute Return Billion Dollar Club ranking.
Dave Millar, an external spokesman for the firm at RLM
Finsbury, declined to comment.
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Five years ago
>> Dow Kim, former co-president of Merrill Lynch's
global markets and investment banking group,
was struggling to launch Diamond Lake Investment Group.
At the time, expectations were already being lowered from a
potential $5 billion start to as low as $500 million. Even that
turned out to be optimistic. He had lost financial backing from
Merrill, but was believed to be seeking another anchor
investor. By August 2008
the plans were officially toast.
Three years later, Kim was sued by former UBS trader Namuk
Cho, who said he had been hired for Diamond Lake and promised a
$2 million payday. That suit is moving through the legal
as recently as last week the duo were still swapping
In an emailed response to questions, Kim said he was
currently retired from the industry.
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