Bill Hwang

Archegos Capital Management is the family investment vehicle founded by former Tiger Management analyst Bill Hwang in 2013. He was a protege and one of the so-called “tiger cubs” of legendary hedge fund manager Julian Robertson who mentored and supported some of the best-performing investors including Stephen Mandel, Lee Ainslie and Chase Coleman. Hwang and Patrick Halligan, Archegos’s Chief Financial Officer, were arrested a charged April 27 2022 with racketeering conspiracy, securities fraud, and wire fraud offenses in connection with interrelated schemes to unlawfully manipulate the prices of publicly traded securities in Archegos’s portfolio and to defraud leading global investment banks and brokerages. Two members of his firm have already pleaded guilty to related charges. Hwang started out as a stock salesman at Hyundai Securities in the early 1990s. Before Archegos, Hwang built New York-based hedge fund Tiger Asia Management which focused on Asian investments. In 2012, Hwang pleaded guilty to insider trading of Chinese bank stocks and agreed to pay $44 million to settle charges from the Securities and Exchange Commission. The federal agency alleged that he used confidential information received in private placement offerings to short sell three Chinese bank stocks. After the settlement, Hwang closed Tiger Asia Management and Archegos was born. Hwang also has a charity called “Grace and Mercy Foundation” with $500 million in assets, according to the latest tax filings. The foundation has maintained a low profile in the charity world, even with its enormous size. The charity has created generous tax write-offs for Hwang’s investments. In November 2024 A federal judge sentenced Bill Hwang, the founder of Archegos Capital Management, on Wednesday to 18 years in prison for his role in the collapse of his once-giant investment firm that caused roughly $10 billion in losses for Wall Street banks.