U.K. hedge fund Arrowgrass Capital Partners LLP has decided to close down and return capital to investors following a new round of redemption requests, Bloomberg News reported Sept. 13, citing an investor letter it had seen.
Arrowgrass said it was central bank policies worldwide that caused it to take this decision. One of the company's founders, Nick Niell, said in the letter that the company's strategies were optimized in accordance with a normal business cycle spanning five to seven years.
People with knowledge of the situation told the newswire that the firm's assets under management had already sharply declined before the latest round of redemption requests.
