KCL Capital, the stock focused hedge fund firm founded by Point72 alumni Chris LaSusa and Kevin Cottrell has closed after nearly six years, with Cottrell moving to multi-strategy investment firm Balyasny Asset Management, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as confirming that KCL Capital was wound down in August during a difficult fundraising period for single strategy managers.
Cottrell is set to begin trading as a portfolio manager focused on technology, media and telecoms stocks at Balyasny’s equities trading unit Corbets next month, according to Bloomberg’s sources.
Cottrell is the latest in a string of managers who have closed their own funds to join multi-strata including macro specialist Ben Melkman, who took his strategy to Schonfeld Strategic Advisors, as well as Ahmet Arinc, who shuttered his fund after four years to join ExodusPoint Capital Management with his team. Stock picker Heron Bay Capital also closed last year, and its investment team led by founder Sean Gambino joined multi-strategy hedge fund Eisler Capital.
