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Dmitry Balyasny Shutters His Own Best Ideas Hedge Fund

  • Atlas Fundamental had fallen almost 6% through Aug. 24
  • Balyasny fund shrank as outside investors withdrew capital

Dmitry Balyasny, who created a hedge fund during the financial crisis to trade on his best ideas, has closed it after poor performance this year.

Balyasny Asset Management shut down the Atlas Fundamental Trading Fund after deciding it’s more cost effective to manage the capital within Atlas Enhanced, the levered version of the firm’s flagship vehicle, according to a person familiar with the situation. Atlas Fundamental had lost all of its outside capital and shrunk to no more than $150 million in assets when it closed, the person said.