London-based hedge fund firm Clive Capital is closing its doors at the end of the month following three consecutive years of losses.
reported that Clive, one of the world's largest commodity hedge funds, will return capital back to investors in the next couple of weeks. The firm called its directional, long volatility strategy "unsuitable," and admitted that it could not generate the returns it did in its earlier years.
While the firm made clients over 44% in 2008 during the financial crisis, Clive lost 9% in 2012 and is down another 9% so far this year.
Launched in 2008 by former Moore Capital start trader Chris Levett, Clive currently has about $1 billion in assets.