Greenwich, Conn.-based hedge fund firm Traxis Partners is winding down following the death of founder Barton Biggs last year.
The Wall Street Journal reported that Traxis lost a “significant amount” of capital after the firm closed the two funds Biggs managed after his death.
Biggs’ son, Barton W. Biggs, said in a statement that while his “father would have regretted that Traxis is having to shut its doors soon after his death,” he hoped the time the firm’s partners spent at Traxis would contribute to their future success.
Biggs, who gained a reputation as a blunt, fearless analyst when it came to sizing up the markets, formed Traxis in 2003 after his stint at Morgan Stanley. He died on July 2012 at the age of 79 after suffering from an illness for several weeks related to a blood infection.
Traxis Partners managed more than $1 billion at the time of Biggs’s death.