Hamza Lemssouguer, the 36-year-old founder of Arini Capital Management, has seen his hedge fund's $7bn flagship fund suffer losses of over 26 per cent this year after a brutal sell-off in corporate debt markets. The firm recently leased a 40,000-square-foot Mayfair office from Apollo Global Management, but market turmoil has forced Arini to dump large blocks of bonds.
Arini has sold positions with a face value of more than $2bn in chaotic trading over the past week, according to one hedge fund manager. Rival traders have placed short bets against Arini's biggest holdings, exacerbating pressure on its portfolio. A person close to Arini insisted it was "business as usual."
Lemssouguer built Arini from a $1bn start-up to a $22bn investment firm after rising to become one of Credit Suisse's most profitable traders in his late twenties. The firm's main fund gained 27 per cent in 2023, 21 per cent in 2024 and 10 per cent last year before the current downturn.
Source: Financial Times Companies · Summarized by HeadlinesBriefing