- Hedge fund Light Sky Macro launched earlier this year, with the backing of Steve Cohen, Dan Loeb and a number of other hedge fund managers.
- The fund had a rough start but is now in positive territory.
- The fund was started by Ben Melkman, a former partner at Brevan Howard.
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One of the hottest hedge fund launches of the year has doubled its assets in about 6 months
Ben Melkman's Light Sky Macro is in positive territory after dropping in performance earlier this year.
NEW YORK – Things are looking good for Ben Melkman's Light Sky Macro.
After a rough start earlier this year, the macro hedge fund is posting slight gains and raising more money – double what it had about six months ago.
The hedge fund gained 0.59% after fees since launching March 1 through September, a person familiar with the returns told Business Insider. It means the fund has recouped early losses — after dropping about
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Light Sky Macro has quickly raised assets and is currently managing $1.7 billion, the person added. That's about double what the firm managed at the end of April.
Some of the biggest names in the hedge fund industry backed Light Sky Macro, including billionaire Steve Cohen, Third Point's Dan Loeb and Moore Capital's Louis Bacon, Business Insider earlier reported.
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