What was the name of the 1998 hedge fund whose near-collapse shook global markets after Russia's default?

Long-Term Capital Management was the 1998 hedge fund whose near-collapse shook global markets after Russia's default.

LTCM used highly leveraged trading strategies involving bonds, derivatives, and other financial instruments. Its partners included prominent finance academics and traders, which contributed to confidence in its sophisticated mathematical models.

Russia's August 1998 debt default and the resulting market turmoil caused many of LTCM's positions to move against it. Because the fund had borrowed heavily and was connected to numerous counterparties, an uncontrolled failure threatened further disruption.

The Federal Reserve Bank of New York helped coordinate a private-sector rescue in September 1998. The episode did not involve a stock-market crash on the scale of 1929 or 1987, but it demonstrated how leverage and interconnected markets could amplify a financial shock.