Moore Capital Overhauls Coffey Fund Amid Lagging Performance

Moore Capital Management LLC restructured its main emerging-markets hedge fund in a move that may improve the below-average returns posted by Greg Coffey since he took over as manager three years ago.

Coffey, who is based in London, shed almost $100 million of hard-to-sell assets that had curbed his gains, according to two people with knowledge of matter. The underperforming investments will remain in the Moore Emerging Markets fund while Coffey will continue overseeing most of his assets in the new GC Moore Emerging Macro fund.