John Meriwether, the hedge fund manager and arbitrageur behind Long-Term Capital Management, is in the process of setting up a new hedge fund – his third. The move comes barely three months after Meriwether decided to close his second company, JWM Partners, after clients saw the value of their investments fall by more than 44% in the financial crisis. The new venture, JM Advisors Management, will, like Meriwether’s previous companies, be based in Connecticut.
