Nektar Shuts $1 Billion Hedge Fund as Main Backer Pulls Out
- Brummer & Partners, an investor since 2002, to redeem in May
- Fund CIO cites challenging market for decision to liquidate
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Nektar Asset Management is shutting down its money pool after its largest backer pulled out, adding to a growing list of hedge funds that have thrown in the towel.
Brummer & Partners, an investor since 2002, said it will cash out by the end of May because the Nektar Fund’s expected future return is no longer competitive.