Benros Capital Partners LLP, a London hedge fund founded by former Goldman Sachs Group Inc. (GS) traders, is shutting down after less than two years as shareholder Brummer & Partners AB pulled its investment.
Brummer, a Swedish firm that owns 45 percent of Benros and seeded it with $300m at its founding in 2011, announced it would redeem its investment in a statement on its website. Daniele Benatoff, one of Benrosā??s founders, confirmed that the fund will be shut down, but declined further comment.
According to Brummer, the fund has not lived up to expectations. The fund had a negative performance of 7 pct since inception.
