| Former Lehman Brothers trader Rick Rieder started his new hedge fund
R3 Capital Partners. Lehman Brothers has invested in the fund as well
as sold it about $5 billion in assets, 75 percent of which were
corporate bonds and loans. R3 also bought about $100 million of
Lehman's "Level 3 assets" which are mostly leveraged loans and
mortgage backed securities. Before starting R3, Rieder headed the
global principal strategies group, investing in credit arbitrage,
aviation finance and private equity portion of Lehman. Another Lehman
executive David Sherr also set up his own hedge fund One William
Street Capital Management, and has bough assets from Lehman. |
