“Unfortunately the ongoing government investigation presents significant challenges to maintaining our collective focus,” the former SAC portfolio manager said.
They will sell all holdings by March 31 according to the Bloomberg report.
The firm was raided in connection with the FBI’s massive insider trading probe back in November.
Back in December, the hedge fund extended the deadline for investors to request a withdrawal of their funds. rumours swirled that the Cornell endowment wanted their money out, but the firm said actual redemptions were less than 10%.
This is now the second (known) hedge fund to fold as a result of the prove; Barai Capital, who’s founder has been charged with wire and securities fraud, just shuttered.