Moore Capital plans to return $2bn to investors (Fund News)
Louis Bacon, head of $15bn Moore Capital, told investors in a letter on Wednesday that uncertain and illiquid markets meant his flagship hedge fund had become too large to be able to match past returns. To make the fund more nimble he plans to return some $2bn to investors.
Lazard Shutters Korea Fund as CICC Closes Asia Strategy (Fund News)
Asian Investor reports that Lazard has closed its South Korea-focused activist hedge fund, while China International Capital Corporation (CICC) has done the same with its Asian long/short equity strategy, as the sector continues to be roiled by volatile markets and investor redemptions.