Weavering Capital Fails

March 23rd, 2009
| More
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


More Recent Headlines

Harbinger to Launch Troubled Bond & Loan Focused Fund

GLG Drops from #1, Toscafund Falls Off of EUROPE50

Target Responds Bill Ackman

CQS’ Founder Michael Hintze to Share CEO reins with BarCap’s Grant Thompson

Paulson Buying Gold

Korea Investment Corporation names Kalb CIO

Ackman to Nominate Himself and Others to Target's & General Growth's Boards

CRD Analytics' Michael Muyot and Peter Fusaro ring the NASDAQ Opening Bell

TCI Running From India

Mutual Fund Industry Vets to Launch Market-Neutral Hedge Fund