Benros Capital Partners LLP, a London hedge fund founded by former Goldman Sachs Group Inc. (GS) traders, is shutting down after less than two years as shareholder Brummer & Partners AB pulled its investment.

Brummer, a Swedish firm that owns 45 percent of Benros and seeded it with $300m at its founding in 2011, announced it would redeem its investment in a statement on its website. Daniele Benatoff, one of Benros�??s founders, confirmed that the fund will be shut down, but declined further comment.

According to Brummer, the fund has not lived up to expectations. The fund had a negative performance of 7 pct since inception.