Content area
Full Text
The New York firm is raising money just as its high-profile losing bets are finally starting to pay off.
James Chanos (Bloomberg)
James Chanos's New York-based investment firm, Kynikos Associates, is raising money for two new hedge funds, according to regulatory filings.
It is seeking investors for Kynikos Capital Partners and Kynikos Global Capital Partners, according to separate filings. So far Kynikos has not raised any money yet for the funds, according to the filings.
The fundraising could be one of Chanos's best market- timing decisions in a while. The short specialist, who has been badly hurt by the six-year bull market, is starting to see some of his highest-profile negative bets start to pay off.
Little is known about Kynikos's new funds. The filings indicate that the funds require a minimum investment of $1 million but do not describe the strategy for either fund. Kynikos representatives did not...