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Another Hedge Fund Veteran Is Quitting a Brutal Market

  • Founder says market is becoming more difficult to anticipate
  • An estimated 174 hedge funds were liquidated in third quarter
Luxembourg versions of three Jabre funds have trailed the industry
Updated on

Philippe Jabre is returning money to investors after an “especially challenging” year, adding to the swelling list of hedge-fund veterans giving up on an industry where money-making opportunities have dwindled.

Geneva-based Jabre Capital Partners SA is returning client money in the three funds personally managed by Jabre, said Mark Cecil, one of the firm’s founding partners. The remaining two funds, one focused on emerging markets and the other on European credit, will keep operating with outside money, he said.