Just three months after investor Bill Hwang’s investment firm imploded — leaving Wall Street with billions of dollars in losses — two Archegos Capital staffers are gearing up to test the strategy all over again, The Post has learned.
Jensen Ko and Sterling Clay, who worked at Archegos until its epic collapse in March, are quietly preparing to launch a new fund using their former boss’s highly leveraged investment style, people with direct knowledge of the plans told The Post.
“The strategy worked until it didn’t…. but it worked,” a source close to one of the Archegos alumni told The Post in explaining their thinking.
Indeed, in autopsying Archegos, Bloomberg deemed Hwang “the greatest trader you’d never heard of” for turning his $200 million personal wealth into a massive $20 billion in the span of less than eight years.
Ko and Clay plan to use their own money over the next year to establish a track record of lucrative but reliable investments with the goal of eventually raising money from outside investors, according to people with direct knowledge.
The Post was unable to confirm how much the pair have to invest, but people close to them estimated it