Segantii to Shut as Insider Trading Charge Draws Redemptions
- Sadler and firm charged with insider trading in Hong Kong
- The ‘block-trade king’ built one of Asia’s largest hedge funds
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Simon Sadler’s hedge fund is shutting down and returning capital to investors after an insider trading charge in Hong Kong sparked concerns about a flood of redemptions, according to people familiar with the matter.
Sadler and Chief Executive Officer Kurt Ersoy told Segantii Capital Management Ltd. staff on a brief call Thursday that in the best interests of investors the fund would close, one of the people said. The firm potentially faced significant redemption requests, the person said, asking not to be identified discussing private matters.