Dharmesh Maniyar, who previously traded for both Paul Tudor Jones and Alan Howard before launching his own firm in 2020, is shutting down his eponymous global macro hedge fund following a wave of investor redemption requests, according to a report by Bloomberg.
The report cites an investor letter as confirming that Maniyar Capital will redeem all investors in the fund by 1 October.
Maniyar wrote: “We believe this decision is in the best interests of all investors, ensuring fair and equal treatment in light of the fund’s impending AUM decline due to recent redemption requests.”
The fund, which was spun out of Tudor Investment Corp in 2020, launched with $1.4bn in capital, including backing from Jones. It combined quant strategies and discretionary trading in a ‘mind and machine’ approach that leverages data science approaches for discretionary macro trading and advanced quantitative techniques for systematic strategies.
In a statement, Maniyar said: “I remain fully committed to intellectual engagement and fostering an investment ethos that advances scientific discovery. I am optimistic that our innovative approach of combining discretionary macro trading and systematic macro using advance quantitative techniques can be successfully applied to investing and generating returns for investors.”
