Greg Coffey’s Hedge Fund is Up 29%
They call him the “Wizard of Oz”… because he’s Australian… get it?
Greg Coffey retired at the age of 41 after time at GLG Partners and Moore Capital Management and returned to Sydney, Australia. He had amassed a personal fortune of $665 million. He’d been known for demanding that coffee be delivered every day at the same time (even if he wasn’t in). He would go on to buy real estate across Australia.
But six years later, he announced plans to start a new fund.
Now, with 2019 winding down, he’s celebrating success. Coffey’s Kirkoswald Asset Management was up 29% through the end of October.
That figure easily outpaces the 21% return for the S&P 500 over the same period. Coffey’s macro fund has succeeded in a difficult time for the broader market. According to Bloomberg, Coffey’s fund is generating five times the average return of his competitions.
Greg Coffey and His Big Return
Greg Coffey studied the markets under Louis Bacon, who just announced plans to shutter Moore Capital Management. He also spent time at GLG Partners running emerging markets funds. Bacon had described Coffey as “the most impressive trader” he had ever seen.
Coffey returned from a long hiatus last year. He raised about $1 billion to launch Kirkoswald Asset Management in April 2018.
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