Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bloomberg Customers

Greenlight Added Investors After 6.8% First-Quarter Gain

Hedge-fund Manager David Einhorn
David Einhorn, president of Greenlight Capital Inc. Photographer: Jonathan Fickies/Bloomberg

Greenlight Capital Inc., the $7.8 billion hedge fund run by David Einhorn, opened to investors last quarter for the first time since 2008 after posting a 6.8 percent gain, according to a letter to investors.

Greenlight increased assets by 6 percent last quarter and a “high percentage” of the capital raised was invested in the dollar-denominated class of the Greenlight Capital Gold funds, the firm said in the May 29 letter, which was obtained by Bloomberg News.

Einhorn’s New York-based hedge fund advanced in the first three months of the year as stocks climbed and the firm profited from its long positions, or bets that equities would rise, including wagers on Apple Inc. and Seagate Technology Plc, the firm said. Hedge funds on average rose 1.9 percent during the first quarter, according to Bloomberg data.

Among Greenlight’s short positions, or bets that securities will fall, the hedge fund gained on a falling Japanese yen, the firm said. It also took “a brief and successful short position” in Diamond Foods Inc., the letter said.

Einhorn, whose fund can bet on rising and falling prices, is best known for shorting Lehman Brothers Holdings Inc. before it collapsed in September 2008.

Jonathan Gasthalter, a spokesman for Greenlight, declined to comment.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.