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Some hedge funds post big gains in July -WSJ


Date: Friday, August 3, 2007
Author: Reuters.com

NEW YORK, Aug 3 (Reuters) - Some hedge funds were able to post big profits in July, usually by betting on problems in the subprime-mortgage market, the Wall Street Journal reported on its Web site on Thursday.

One fund run by Hayman Capital Partners, a Dallas firm that manages more than $500 million, is up 240 percent so far this year, while another is 150 percent higher, the paper reported.

The funds gained more than 60 percent in July, the paper said, citing one investor.

Balestra Capital Partners, a $210 million New York fund, gained about 28 percent in July and is up about 80 percent for the year, after fees, the paper reported.

Patrick McMahon, who runs MKP Capital Management LLC that manages $5.5 billion, has five funds that are up between 10 percent and 26 percent so far this year, the paper reported.

Lone Pine Capital LLC, a hedge-fund firm run by Stephen Mandel, which focuses on stock investments, gained about 5 percent in July, and is about 20 percent higher this year.

Sol Waksman, who runs hedge-fund data company BarclayHedge, has received results for 415 of the 5,400 firms in his database, the paper reported.

These funds reported gains of 0.27 percent in July, the Journal said.

None of the firms could be reached immediately.