Pelham Capital’s main hedge fund lost about 10 percent in June as the U.K.’s shock decision to exit the European Union sparked turmoil in global equity markets, according to two people with knowledge of the matter.

The losses in Pelham Long/Short Fund, which managed 3.8 billion euros ($4.2 billion) at the end of May, left it down about 9 percent in the first half of the year, the people said, asking not to be identified because the information is private. A spokesman for Pelham Capital declined to comment. 

The fund, one of the largest in Europe betting on rising and falling share values, had gained about 15 percent last year to earn a place in Bloomberg’s ranking of the top-performing hedge funds with assets of $1 billion and up.

Goldman Sachs Group Inc.’s Petershill II fund has a stake in Pelham Capital, which is based in London. The firm was started in 2007 by former Lansdowne Partners money manager Ross Turner.

The vote in favor of Brexit sent share prices tumbling on June 24, erasing trillions of dollars from global stock markets. Equity long-short hedge funds declined about 0.3 percent during the month, according to a Hedge Fund Research Inc. index.

Alken Fund Absolute Return Europe, which managed 2.2 billion euros at the end of May, lost 12.8 percent in June. Lansdowne Partners, one of Europe’s largest hedge fund firms, also saw its biggest fund lose money last month through June 24, according to an investor update seen by Bloomberg.

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