Incapture, an investment and technology firm backed by former Barclays Plc Chief Executive Officer Robert Diamond, said it’s liquidating a $150 million hedge fund to focus on developing software.
“The decision was made to close Alpha Capture Fund to focus on Incapture’s core technology business,” Margaret Popper, a spokeswoman for Incapture at Sard Verbinnen & Co., said by phone Wednesday. “Given the great opportunities in the financial technology market and given the redirection of the company, we’ve made the decision with the best interests of our investors in mind.”
Incapture was started in 2012 by the former chief investment officer of BlackRock Inc.’s model-based fixed income group, Peter Knez. The firm has a technology group that Knez co-founded with former BlackRock executive Alan Moore. Diamond joined Barclays in 1996 and rose to CEO after running the investment banking unit for about 13 years. He left Barclays in 2012 after the London-based bank was fined for manipulating benchmark interest rates.
Incapture has offices in New York and San Francisco.