Hedge fund of the year: Napier Park Global Capital
With around 85% of its capital locked up for two years or longer, Napier Park was in an ideal position to capitalise on intense volatility last October
October 14, 2014 was a day of misery for many hedge funds. Managers were desperately trying to cut losses and raise cash after a drop in oil prices and a surprise US Treasury rally upended some of the year's biggest hedge fund trades, with the collapse of merger talks between pharmaceuticals firms AbbVie and Shire magnifying the pain for some (Risk December 2014).
As funds sold assets, and losses spread across the industry, Napier Park Global Capital, a New York-based hedge fund specialising in
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