London-based hedge fund Lodestone Investment Partners is shutting down.
Bloomberg reported that the fund is liquidating after the February arrests of two of its founders, former Brevan Howard employees Tim Whyte and Carl Linderum, for alleged insider trading. Neither has been charged with any wrongdoing.
Additional information were not disclosed about the firm's closure.
Lodestone is the latest hedge fund to liquidate after an insider trading probe. Connecticut-based Diamondback Capital Management informed investors in December that it was planning to close its doors after receiving about $520 million, or 26% of its total assets, in redemption requests, while Level Global Investors told investors it would be shutting down in 2011.
Founded in 2012, Lodestone’s sole hedge fund manages about $100 million in assets.