Wall Street Hedge Funds Stung by Market Turmoil

More hedge funds are suffering losses in recent times.

Traders say the pain of the best hedge funds Melvin Capital Management and Maplelane Capital in recent days is spreading, as an increasing number of stocks with significant short-term rise in interest rates and when loss-making funds withdraw their exposure to the stock market on both long and short sides of their portfolios .

This means that funds are also damaged on previous profitable investments in companies because other funds leave their investments in the same company. The pain is largely caused by the great turmoil in the market and not a specific stock.

Candlestick Capital Management, an approximately $ 3 billion Greenwich, Conn., Hedge fund started by former Citadel portfolio manager Jack Woodruff, was in the middle to mid-year during the year until Wednesday, says a person familiar with the fund. It increased by 26% in 2020, the first year.

D1 Capital Partners, a top-performing fund in recent years founded by former Viking Global Investment Chief Dan Sundheim, fell by about 20% during the year to Wednesday. Its significant portfolio of investments in private companies has supported the fund from a major loss. D1 managed $ 20 billion at the beginning of the year.

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