Verition Fund Management has shut down a trading team led by former Goldman Sachs executives Sina Lashgari and Jon Paul, following a period of underperformance, according to a report by Bloomberg citing unnamed people familiar with the matter.

Lashgari and Paul, who left Goldman in 2022, had initially been known for index rebalancing strategies but had recently pivoted toward event-driven trades. Their four-person team has now largely disbanded, with one member remaining at Verition, the sources said.

Verition continues to run its broader index rebalancing strategies, which focus on algorithmically anticipating which stocks will enter or exit major indices. Multi-strategy hedge funds like Verition typically operate with strict risk limits, often curtailing teams or shutting trading books when performance falls short.

Verition managed $14.4bn at the start of 2026, with its flagship multi-strategy fund posting a 7.5% gain last year.

According to Bloomberg, Representatives for Verition, Lashgari, and Paul declined to comment.