Grant Capital Partners, the hedge fund manager set up by a former Goldman Sachs trader is shutting down.In a letter to investors, Geoff Grant, founder of the $1bn firm, said he did not have an ??edge? in the current markets. It is an admission that is gaining frequency among the big operators in the hedge fund world.
According to an investor, Grant Capital??s flagship Liquid Macro fund, which specialises in trading around global economic trends, is down 6.2 per cent so far this year after losing 1.7 per cent last year.
Previously Mr Grant and Ron Beller founded Peloton Partners in 2005, which collapsed in 2008, losing more than $3bn in a week as leveraged bets on US mortgage-backed securities imploded.
