LMR Partners is raising capital after its main hedge fund suffered heavy losses amid the coronavirus-fueled implosion in global markets.
The $4.6 billion LMR Fund slumped 12.5% in the two weeks through March 13, according to people with knowledge of the matter. The setback led LMR to reduce its bets and stop some traders from investing, a step hedge funds typically take as part of their risk-management response to stem losses, said the people, who asked not to be identified because the information is private.
