The Rise and Fall of Archegos Capital Management I

The Rise and Fall of Archegos Capital Management I

In this video, Trevor explains the origins and the rise of Bill Hwang, a former tiger cub and the fund manager of Archegos. He also introduces the trading strategy used by Archegos that ultimately led to their demise.
Overview

Bill Hwang created Archegos Capital Management. It was created as what is known as a family office, only running money from himself and close family. Eight years later, Archegos, a fund that very few in the financial markets had even heard of, would collapse spectacularly, causing $10bn in losses for its investment bank counterparties, and wiping out the entire $10bn of its own Assets Under Management that it held at the start of the year.

Key learning objectives:

  • How was Archegos formed?

  • What three main strategies undertaken by the fund led to disaster?

  • How did the holding of Viacom lead to catastrophe?

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Summary
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Expert
Trevor Pugh

Trevor Pugh

Trevor has worked in finance since 1995. He started his career in investment banking after studying Law at Cambridge and taking a Masters Degree in Financial Services from University College Dublin. Trevor spent 18 years at Barclays investment bank where he became a Managing Director and head of Gilt trading. He currently works as Chief Operating Officer for a hedge fund.

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