'The Big Short' hero said to launch new fund

The Big Short Book Cover

The hedge-fund firm run by Greg Lippmann, a mortgage trader whose bets against the U.S. housing market were depicted in Michael Lewis’s 'The Big Short', plans to launch a new fund early next year, according to a person with knowledge of the matter.

Bloomberg News reports that LibreMax Capital, where Lippmann is Chief Investment Officer, is raising at least $200m to invest in securities such as the junior portions of commercial mortgage-bonds and so-called mezzanine slices of collateralized loan obligations, said the person, who asked not be identified because the information isn’t public.

The fund will have an investment period of two years and a four-year period during which it can divest holdings, the person said.

A representative for LibreMax declined to comment. Newsletter Hedge Fund Alert first reported the plans.

To access the complete Bloomberg News article hit the link below:

Lippmann, Trader Portrayed in ‘Big Short’, Said to Plan New Fund

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