Arrowgrass Capital Partners, the hedge fund started by a group of former Deutsche Bank AG traders, plans to shut after getting hit with a fresh round of investor redemptions.
The 11-year-old firm, which employs more than 100 people in London and New York, will return capital and close, according to an investor letter seen by Bloomberg. Its assets had already slumped by half from the $6.4 billion it managed in 2017 before it received requests to withdraw another billion, according to people with knowledge of the situation.