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Report: Hedge fund Caxton Associates to change base to London

Caxton Associates LP is transferring its headquarters to London from New York, according to a letter seen by the Financial Times.

The hedge fund has been hiring rapidly for its office in the British capital, with its workforce doubling in the past 18 months, an unnamed source told the newspaper. The hiring spree is focused on operations, technology and finance staff, the FT wrote July 25.

Caxton, which manages assets of roughly $3.7 billion, is taking advantage of the weakening of the British pound due to Brexit, the newspaper wrote.