Ron Beller, Peloton Partners, Former Goldman Sachs Partner known best outside the firm for being swindled by his secretary, is going down after a good year last year...+27% short credit.
He and Geoff Grant had 2? bio dollars AUM and have just blown up from what the market is saying. Any news from this informed crowd?
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Peloton
Posted by LeverHedge, Feb 27, 2008, 1:35pm
Comments
posted by LeverHedge
Feb 27, 2008 6:09PM
multi strat and credit.
kaput.
Listen to me now, believe me later.
posted by guest
Feb 28, 2008 9:58AM
Heard the same. Latest rumour is a $20bn HF in London folding... not sure if the two are the same rumour getting out of hand.
posted by LeverHedge
Feb 28, 2008 10:36AM
Its all over the news now.
But basically its the ABS fund that will zero out. They had 500 mio ? of the multistrat fund invested in the ABS fund....and probably a few trades that looked like that in the main fund. So it might escape "only" down 50%. But the ABS fund will zero out.
posted by LeverHedge
Feb 28, 2008 11:10AM
Thats the best part of the story. He PR'd the hell out of himself, Beller, in late January because after a good year, he couldn't raise new capital. He was in divorce proceedings with his partner and decided to swing for the fence.
He was not well liked in London Macro Community. People will be dancing on his grave.
posted by LeverHedge
Feb 28, 2008 11:45AM
http://ftalphaville.ft.com/blog/2008/02/28/11256/pelotons-bad-news-for-investors/
posted by LeverHedge
Feb 28, 2008 11:50AM
"which has delivered excellent performance since inception"
What kind of guy puts that line in his "I lost all your money" letter?
One who is completely delusional.
posted by guest
Feb 27, 2008 5:38PM
which fund?