Endeavour, the $3bn London hedge fund that lost a quarter of its value in a single day last year, is in the final stages of shutting its flagship fund after Barclays walked away from a planned rescue.
Under a planned deal to rescue the fund, Barclays Global Invstors wanted to introduce Endeavour to new investors in return for access to their trading formulae. The deal was never finally approved by BGI. Endeavour has laid off most of their 60 staff and has moved to Oxfordshire from London with their remaining staff.
Endeavour ended the year down more than 50 per cent and wants to start returning money to investors.