It's no secret that the hedge fund industry is having a hard time.
And with complaints from LPs growing louder, another hedge fund legend has decided to return all outside funds and convert into a family office. This time, it's Louis Bacon's Moore Capital. According to the FT, Bacon's decision to shutter the three Moore funds comes after several years of poor returns.
Last year, one fund managed by Moore posted a 6% drop, underperforming the S&P 500, after it struggled to recover from two explosions in equity volatility, while another fund was off 3.3%.
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