Asfandyar Nadeem is closing his London-based hedge fund firm Deem Global to new capital as assets approach the $3bn mark, joining a growing list of managers limiting inflows to control fund size, according to a report by Bloomberg.
The report cites unnamed people familiar with the matter as saying that Deem Global will stop accepting new investors from 1 March, by which point assets are expected to reach around $3bn. The flagship Deem Global Macro fund is set to account for approximately $2.7bn, with the higher-risk Deem Global Macro Plus fund managing the balance. A spokesperson for the firm reportedly declined to comment.
Nadeem, a former portfolio manager at Brevan Howard Asset Management, launched Deem in 2022 and has seen rapid asset growth amid strong performance from discretionary macro strategies. Assets have risen sharply from about $300m at launch, boosted by inflows and investment gains, reaching roughly $2.8bn by February.
In a letter to investors seen by Bloomberg News, Deem said the decision reflected a cautious approach to scaling. While the strategy has greater long-term capacity, the firm said the soft close would help ensure disciplined growth. The hedge fund is expected to reopen to new capital in early 2027.
Performance has been a key driver of demand. The Deem Global Macro fund returned 13% in 2025 and gained a further 6.5% in January, while the smaller Macro Plus fund surged 42% last year and was up 24% in January, the people said. Most investor capital is subject to a two-year lock-up, followed by quarterly redemptions capped at 25%.
Nadeem told investors that governments are once again becoming central drivers of markets, creating a rich opportunity set for macro investors. “The current environment is global, differentiated and deeply structural,” he wrote, adding that it rewards managers who understand how states respond to economic and strategic pressure.
