Weavering Capital Fails

March 23rd, 2009
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Weavering Capital and its Weavering Macro Fixed Income fund were put into liquidation late last week after it was discovered that the bulk of the firm’s assets were held in a $637 million derivatives contract that was tied to an offshore entity controlled by Weavering’s CEO.

The firm reportedly only had $639 million in assets. Weavering was founded in 1998 by its CEO Magnus Peterson, a former head of trading at SEB.
Related Article Tags: Investment Management, Fund Manager and General Financial News; Hedge Fund Launches and Hedge Fund Closings

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