Key Takeaways
- • FIFTHDELTA, the long-short hedge fund founded by former Citadel traders Niall O'Keeffe and Tio Charbaghi, has posted year-to-date losses of 25% after a 13% decline in July, according to Bloomberg.
- • The fund was reported to have been down as much as 29% at one point before paring losses.
- • The fund launched in July 2021 with $1.3bn and was closed to new money on its first day of trading to control the amount of capital it ran.
- • The firm currently manages around $1.5bn, according to Bloomberg, and has received additional inflows from founding and new investors despite the losses.
- • Executive committee member Caroline Bradley said the largest investors remain supportive during what she described as a challenging few months.
Summary
FIFTHDELTA, a long-short hedge fund founded by former Citadel traders Niall O'Keeffe and Tio Charbaghi, has recorded year-to-date losses of 25% after a 13% fall in July, according to a report by Bloomberg. The Bloomberg report, citing unnamed sources familiar with the matter, said the fund was down by as much as 29% at one point before paring losses.
The fund was one of Europe's biggest hedge fund launches in 2021. It opened in July 2021 with $1.3bn and was closed to new money on its first day of trading in an effort to limit the amount of capital it was running. The firm currently manages around $1.5bn.
Despite the months of losses, the firm has attracted additional inflows from both founding and new investors, according to Caroline Bradley, a member of FIFTHDELTA's executive committee, as quoted by Bloomberg. "Our largest investors remain very supportive in what has been a challenging few months for the fund," she said.
The fund was one of Europe's biggest hedge fund launches in 2021. It opened in July 2021 with $1.3bn and was closed to new money on its first day of trading in an effort to limit the amount of capital it was running. The firm currently manages around $1.5bn.
Despite the months of losses, the firm has attracted additional inflows from both founding and new investors, according to Caroline Bradley, a member of FIFTHDELTA's executive committee, as quoted by Bloomberg. "Our largest investors remain very supportive in what has been a challenging few months for the fund," she said.
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