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Ex-Citadel traders’ hedge fund slumps 25% after strong start

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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.

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