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Hedge Fund

Investors in David Einhorn's Greenlight Capital Management's offshore gold fund were down 11.8% in June, bringing their year-to-date losses in the fund to 20%, two sources close to the matter said on Sunday.

Reuters reports that Einhorn, one of the most widely followed hedge fund managers and known for warning about Lehman Brothers' precarious finances before it collapsed, has also seen his flagship $8bn Greenlight Capital fund under recent pressure though it is still up for the year.

In June, Greenlight's flagship portfolio was down 1.1% but still up net 7.4% year to date, according to one of the sources.

In the meantime, Bloomberg reports that Level Global Investors LP co-founder Anthony Chiasson, who was sentenced to 6 1/2 years in prison for using illegal tips to make more than $68m for his hedge fund, was ordered to forfeit $1.4m.

U.S. District Judge Richard Sullivan, who sentenced Chiasson in May, set the forfeiture amount Sunday in a written order in federal court in Manhattan. Chiasson was convicted after a trial in 2012 of conspiracy and securities fraud for trading on illegal tips on Dell and Nvidia Corp.

Bear market in gold pummels Einhorn's Greenlight fund

Level Global Co-Founder Chiasson Must Forfeit $1.4M


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