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Long-Term Capital Management
Long-Term Capital Management L.P. (LTCM) was a hedge fund management firm based in Greenwich, Connecticut that utilized absolute-return trading strategies combined with high financial leverage. The firm’s master hedge fund, Long-Term Capital Portfolio L.P. , collapsed in the late 1990s, leading to an agreement on September 23, 1998 among 14 financial institutions for a $3.6 billion recapitalization under the supervision of the Federal Reserve. LTCM was founded in 1994 by John W.
