The Secretive Hedge Fund That's Generating Huge Profits for Yale
- Endowment's 1994 investment, with partner, was $50 million
- Bracebridge Capital is biggest hedge fund run by a woman
Sterling Memorial Library on the Yale University campus in New Haven, Connecticut.
Photographer: Craig Warga/BloombergIn a year when titans Bill Ackman and David Einhorn each lost more than 20 percent for their investors, David Swensen’s bet on a little-known Boston hedge fund kept making him money.
Nancy Zimmerman’s Bracebridge Capital has gone from $5.8 billion in assets four years ago to $10.3 billion today with a return of about 10 percent a year since its inception. That makes it the largest hedge fund in the world run by a woman. Zimmerman, who survived a 1990s scandal involving Russia, her husband and Harvard University, is so successful at avoiding the limelight that Leda Braga’s $9.5 billion Systematica Investments Ltd. is often cited as the top woman-led firm by assets.