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London Hedge Fund Announces Closure to Investors

Dec 30, 2013
Jing Chen

Commodity specialist Higgs Capital Management has reportedly informed investors through a note Monday that it is winding down.

According to the note obtained by Reuters, the London-based hedge fund firm will return money back to investors in an "orderly fashion." Higgs co-founder Neal Shear explained to the publication that the closing is largely due to "redemptions that are happening in the commodity market and lack of stability of [the firm's] capital."

Founded Morgan Stanley veteran Sheary and former UBS commodities head Jean Bourlot last year, HIggs Capital manages approximately $250 million in assets.

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