The Billion-Dollar Question: Trader’s Changing Returns Puzzle Investors
- Latest pitch shows better performance than earlier document
- Former GLG, Moore trader is raising money for own hedge fund
Greg Coffey.
Photographer: Ian MacNicol/Getty Images
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How much money did star hedge fund manager Greg Coffey make before going solo?
Well, it depends. According to an October presentation sent to investors for his new fund the figure stands at more than $3 billion; another, earlier pitch dated April put the amount in excess of $2 billion. The difference? Whether Coffey excludes five months of losses during the 2008 financial crisis as he was exiting GLG Partners for Moore Capital Management.