Feb 3 (Reuters) - John Meriwether and the other partners in his hedge-fund company, JWM Partners LLC, are considering launching a new fund, the Wall Street Journal said, citing a senior official at the company.
The new fund could be set up within JWM Partners or in a new company, the paper said, citing the official.
The fund’s launch remains some way off and could still fall apart, the paper said.
The official told the paper that it was too early to say what investment strategy the fund would use.
JWM said in its December letter to investors, sent in late January, that the value of its flagship fund, the Relative Value Opportunity Portfolio, dropped 41.57 percent over 2008 to reach a net asset value of $495.7 million, according to the paper.
Meriwether’s previous hedge fund, Long-Term Capital Management, had to accept a $3.6 billion bailout by U.S. banks in 1998 after it ran aground with leveraged trading strategies.
JWM could not immediately be reached for comment by Reuters. (Reporting by Ajay Kamalakaran in Bangalore; Editing by Valerie Lee)