Archegos Capital Management Prepares for Insolvency
Posted on 05/05/2021
Bill Hwang’s Archegos Capital Management is a family office that wreaked havoc on Wall Street. Credit Suisse Group AG made just US$ 17.5 million in fees from Archegos in the year before US$ 5.4 billion in losses stemming from the relationship. Bill Hwang engaged in highly-leveraged stock bets with only minimal collateral posted.
On another note, Archegos Capital hired restructuring advisers to assess potential legal claims from banks and to plan for a possible winding down of its operations.
