New York-based hedge fund firm Arbalet Capital is set to close within the next month or two due to heavy redemptions following sluggish returns.
Reuters reported that Arbalet currently manages just below $200 million, down from its peak of $700 million last year. The firm posted a loss of nearly 9% last year, and was down about 6% in the first half of 2013.
Some of the institutional investors who dropped Arbalet include Schroders New Finance Capital and Maryland’s state pension system.
Founded in April 2012 by 30-year-old Jennifer Fan, one of the youngest hedge fund managers, Arbalet was one of the biggest hedge fund launches last year.