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Report: $800M hedge fund Tide Point Capital to close

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Report: $800M hedge fund Tide Point Capital to close

Old Greenwich, Conn.-based hedge fund Tide Point Capital Management LP is shutting down, Reuters reported, citing "two sources with knowledge of the move."

Tide Point was formed six years ago by Christopher Winham, the fund's chief investment officer and majority owner. Winham reportedly told investors that he has decided to close the fund in order to spend more time with his family.

Tide Point, which invested in industrials, basic materials and consumer cyclicals, most recently oversaw nearly $800 million in client assets, according to the report.

A Tide Point spokesman declined to comment to Reuters on the news.