BlueCrest to Close Hedge Fund and Refund Outside InvestorsBy
Less than three years ago, BlueCrest Capital Management was one of the biggest hedge funds in Europe, managing $37 billion of investor money.
Now, with just $8 billion under management, Michael Platt, its billionaire founder has decided to shut its doors to outside money, quietly ending a bumpy few years for the firm and its investors.
BlueCrest, a 15-year-old hedge fund based on the Isle of Jersey, announced the decision to return outside capital on Tuesday. It is the latest in a rapid succession of announcements by hedge funds closing their doors, returning capital to investors or liquidating…
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