![]() ![]() He paid a total of $60 million to settle civil and criminal charges of manipulating Chinese stocks, and his fund forfeited about $16 million in related profits. Shares in Credit Suisse ( CSGN.SW) and Nomura ( 8604.T) sunk over 10 on Monday after. ![]() However, Hwang shuttered the fund in 2012 after pleading guilty to insider trading in federal court that year. A little known hedge fund that blew up last week has sent shockwaves through the world of investment banking. stocks Friday, according to two people directly familiar with the trades. One of several "Tiger cubs," Hwang grew his firm's assets to over $5 billion at its peak, The Wall Street Journal says, and delivered an annualized return of 16%, according to Bloomberg. Tiger Cub Hwang Hits 20B Forced Liquidation The Wealth Advisor Contributor Ma(Bloomberg) The family office of former Tiger Management trader Bill Hwang was behind the unprecedented selling of some U.S. Previous Article EXCLUSIVE: Tiger Cub Archegos Liquidation Triggers. A liquidation of holdings in Archegos Capital Management, which is run by Tiger cub Bill Hwang, led to a major sell off in ViacomCBS. Robertson closed his fund in 2000, but handed Hwang about $25 million to launch his own fund, Tiger Asia Management. Gabe Plotkin told his investors that Melvin Capital will liquidate all of the. Update 4:30pm: Adds reported size of Archegos positions. He soon went to work under the veteran investor at his storied hedge fund, Tiger Management, and became one of his protégés. He worked as a stock salesperson at Peregrine Securities and Hyundia Securities early in his career, until he caught the eye of one of his clients, Julian Robertson. Hwang holds an economics degree from UCLA and a MBA from Carnegie Mellon, an online biography shows. A liquidation of holdings in Archegos Capital Management, which is run by Tiger cub Bill Hwang, led to a major sell off in ViacomCBS (NASDAQ: VIAC) and Discovery Inc. A liquidation of holdings at several major investment banks with ties to Tiger Cub Archegos Capital Management LLC contributed to an unseen daily decline Friday in shares of stocks. ![]() He's the cofounder of the Grace and Mercy Foundation, a contributor to Focus on the Family, and a trustee of the Fuller Theology Seminar, the three groups' websites show. Hwang is involved in several Christian organizations. Hwang's Archegos Capital Management experienced the forced liquidation of 30 billion worth of positions on Friday, according to The Wall Street Journal. ![]()
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