Failed Sowood hedge fund manager raising new money

Reuters- One year after Jeffrey Larson lost about $1.5 billion in one of the hedge fund industry’s most spectacular collapses, he is trying to raise fresh capital for a new fund, people familiar with his plans said.

"Larson is back and he has been calling virtually everyone in town, leaving no stone unturned," said a Boston-based investor who was contacted by Larson but declined to be identified so he could speak candidly about the new fund.

Larson’s $3 billion hedge fund firm, Sowood Capital Management, lost half of its capital a year ago following heavy losses on his bond market investments.

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