Eric Rosenfeld, one of the principal players behind the spectacular rise and fall of the hedge fund Long-Term Capital Management in the 1990s, will speak to students and faculty of Georgetown's McDonough School of Business on April 17.

Rosenfeld co-founded LTCM with John Meriwether in 1993, helping to turn it into one of the most successful investment funds in history. In 1995 and 1996 the fund rose 43 percent and 41 percent, respectively, earning a profit of $2.1 billion for its investors in 1996. It all came crashing down in 1998 when the company collapsed and lost $4.4 billion, or 77 percent of its capital. In the end, the Federal Reserve Bank of New York had to broker a bail-out deal with financial firms who were at risk because of their dealings with LTCM.

Before joining LTCM, Rosenfeld helped revolutionize bond investing as a trader with Salomon Brothers. Part of Salomon Brothers' "young professors" (he started with the firm after a stint as a professor of Finance at Harvard Business School), he helped bring an intellectual complexity to Wall Street that led to the popularization not only of hedge funds but also of such financial instruments as options, futures, swaps and mortgage bonds.

About the Robert Emmett McDonough School of Business

Georgetown University's McDonough School of Business is a premier business school located in the nation's capital. Founded in 1957 to educate undergraduate business students through the integration of liberal arts and professional education, the McDonough School today welcomes approximately 1,300 undergraduates, 620 MBA students, and more than 500 participants in its executive education programs annually. For more information about the McDonough School, visit http://msb.georgetown.edu

About Georgetown University

Georgetown University is the oldest Catholic and Jesuit university in America, founded in 1789 by Archbishop John Carroll. Georgetown today is a major student-centered, international, research university offering respected undergraduate, graduate and professional programs on its three campuses. For more information about Georgetown University, visit http://www.georgetown.edu

The event, featuring Rosenfeld's analysis of what happened at LTCM, will run from 5:30 to 8:00 pm on April 17 in the McNeir Auditorium on the Georgetown campus. Georgetown students, staff and faculty are welcome.