BirchLane Capital, a London-based hedge fund set up by former JPMorgan credit trader Fajr Bouguettaya, is returning all capital to investors just two years after commencing operations, according to a report by Bloomberg.
BirchLane Capital, a London-based hedge fund set up by former JPMorgan credit trader Fajr Bouguettaya, just two years ago, is returning all capital to investors, according to a report by Bloomberg.
The report cites an unnamed source as reveal that the moves comes after Birchlane’s main backer, the Canada Pension Plan Investment Board, pulled its seed capital as it felt the firm’s growth and returns weren’t fast enough.
Bougeuttaya, who is known for helping unwind the ill-fated Bruno Iksil ‘London Whale’ bets when he worked for JPMorgan Chase & Co, started trading at Birchlane in mid-2020 with about $200 million with this figure then growing to about $300 million at its peak. The fund recorded a gain of around 5% annually but suffered a low single-digit loss this year.
