LTCM II in trouble

JWM Partners LLC, the investment firm run by ex-LTCM chief John Meriwether, lost 24% in its $1 billion fixed-income hedge fund this year through March 14, according to two people with knowledge of the matter. Meriwether's Relative Value Opportunity fund was hurt as bond managers such as Peloton Partners and Carlyle Capital were forced to sell securities to meet margin calls, said the investors, who asked not to be identified because JWM doesn't publicly disclose returns.