FIFTHDELTA, a long-short hedge fund founder by former Citadel traders Niall O’Keeffe and Tio Charbaghi, which was one of Europe’s biggest hedge fund launches in 2021, has seen YTD losses hit 25% after a 13% fall in July, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as revealing that fund was down by as much as 29% at one point, before sparing losses.
The fund, which launched in July 2021 with $1.3bn, was closed to new money on its first day of trading in a bid to control the amount of capital it was running.
The report quotes Caroline Bradley, a member of FIFTHDELTA’s executive committee as saying that the firm, which currently manages around $1.5bn, has seen additional inflows from both founding and new investors, despite the months of losses.
“Our largest investors remain very supportive in what has been a challenging few months for the fund,” she said.