Almost 4 years after MF Global failed, Jon Corzine is reportedly getting ready for a comeback
According to a report from The Wall Street Journal, Corzine, who was formerly chairman of Goldman Sachs and the CEO at hedge fund MF Global before it went bankrupt in 2011, is considering a comeback.
The Journal's Julie Steinberg and Rob Copeland report that Corzine has discussed plans about starting a new fund and that it would be started from his personal wealth and a small group of outside investors.
The new fund could have around $150 million in assets under management, the report said.
MF Global, which was a $1.6 billion commodities hedge fund, went under in 2011 after some of its sovereign debt bets went wrong. Corzine is still in the process of sorting out legal actions against him and MF Global, including potential action from the Commodity Futures Trading Commission, and it's unlikely Corzine would be able to start a fund until these proceedings were concluded, the report said.
In a statement to the Wall Street Journal, Corzine's lawyer said, "Jon Corzine is not managing anybody's money and has not asked a single investor to put money into a fund .... He is gratified that others might want to invest with him."
Read the full report at WSJ.com »