The average hedge fund posted positive returns in December. Greenlight Capital did not, but David Einhorn is hardly sweating.
The New York-based firm’s Offshore fund fell an estimated 0.1% last month, Dealbreaker.com reports. But the fund rose 30.6% on the year, erasing 2008’s losses and surpassing its high-water mark.
Greenlight Capital lost 23% in 2008.
Greenlight Capital invests primarily in publicly traded North American corporate debt offerings and equities. Founded in 1996, the $6 billion Greenlight Capital also manages a fund of funds and a private equity fund through its affiliates, Greenlight Masters and Greenlight Private Equity Partners. It also operates Greenlight Capital Re, a property/casualty reinsurer.