This particular venture was only designed to manage Mr. Jabre's own personal fortune of $160 million or so. Now that his new firm, Jabre Capital Partners is in full flower the old enterprise apparently had little use. In fact, Ballena had been inactive since since Jabcap came on line.

Jabre was most well known for being one of Europe's most renowned traders, most notably on behalf of GLG Partners. That was before he was brought before the FSA and was hit with the largest fine in their history. Rightly or wrongly that incident has now become his calling card.

Hasn't seemed to hurt business though...

-- MDT

Labels: Ballena Capital, Philippe Jabre