Eric Rosenfeld
Eric Rosenfeld was a trader and principal in the Long-Term Capital Management hedgefund that almost went bankrupt in 1998 when the Russian government defaulted on its debt payments on August 17, 1998, triggering a devaluation of the Russian ruble. Long-Term Capital avoided outright bankruptcy with the intervention of the U.S. Federal Reserve, represented by NY Fed President Bill McDonough and executive vice president Peter Fisher, and its arrangement of a consortium of global investment institutions involved with the U.S. Banking System, to provide equity against its losses. LTCM was closed in 2000 with $4.5 billion in losses.
Prior to LTCM, Rosenfeld had been an instructor at Harvard University.
AbOUT one year after LTCM's rescue, in 1999, he joined John Meriwether as a partner in JWM Partners, which started operations with about $500mm under management. He left JWM Partners to join Paloma Partners, a Greenwich fund-of-funds.
Eric is also sometimes credited with the creation of Vizicalc, precursor to Lotus 1-2-3, the first commercially viable spreadsheet program.
In 2007, Rosenfeld founded Quantitative Alternatives LLC in Rye Brook, NY.
See also
- Russian financial crisis
- Long-Term Capital Management