London-based hedge fund Cirera Capital is liquidating with co-founder Ahmet Arinc, the former head of forex at Deutsche Bank, set to join multi-strategy firm ExodusPoint Capital Management, according to a report by Bloomberg.
The report cites an investor document as revealing that Arinc, with Cirera Capital co-founder Tijen Gumusdis managed about $500 million at the emerging-markets-focused macro hedge fund, having grown their capital from just $17 million at the fund’s inception.
In a letter to investors in August, the pair highlighted rising cost pressures as the reason for their decision to shutter Cirera Capital and continue managing assets “under a new umbrella”.
At ExodusPoint, teams of traders combine their efforts to manage $13.4 billion for the hedge fund which has returned about 5% in the first eight months of 2022. Cirera returned 43.7% since launch and was reportedly up 9.2% so far this year.
