Peloton founder launches new fund

One of the founders of collapsed hedge fund Peloton Partners has already begun marketing a new fund, in the latest example of how quickly investors can forgive managers of failed funds. Geoff Grant, chief investment officer of Peloton, plans to launch LiquidMacro in September, just seven months after Peloton’s $2bn ABS fund became the largest European hedge fund failure. The new fund is being selectively pitched to investors but is likely to start with money mostly from family and friends of Grant and his team of nine, who previously made up Peloton’s California office.