Hong Kong-based hedge fund Torq Capital is shutting up shop after more than seven years of trading with founder and Chief Investment Officer Avinash Abraham set to re-join Citadel as a Portfolio Manager, 15 years after leaving the firm, according to a report by Bloomberg.

The reports cites a statement from Torq as confirming the decision, with their firm having already "commenced an orderly wind-down of its operations".

Capital from the fund's market-neutral fund, which focuses on Asian equities and was founded by Abraham in 2016, will be returned to investors "over the next few months," according to Torq Chief Operating Officer Kendall Johnson.

In a separate statement, Citadel confirmed that Abraham, a former Head of Asia for Balyasny Asset Management, and a former Portfolio Manager at Citadel, will join the multi-strategy major's fundamental equities team.