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Hedge Fund Startup Raises $1.3 Billion, Then Takes a Rare Step
- Former Citadel duo’s FIFTHDELTA started trading on Thursday
- Capital-raising success defies gloom of long-short peers
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Former Citadel money managers Niall O’Keeffe and Tio Charbaghi shut their startup hedge fund to new investors on the first day of business after raising $1.25 billion in Europe’s biggest launch this year.
The duo’s London-based FIFTHDELTA fund that bets on rising and falling stocks commenced trading on Thursday, according to Chief Executive Officer Caroline Bradley. It’s now closed to new investors for the next year to control the amount of capital it runs, a rare step by hedge fund startups.