Segantii Capital Management has told investors it will hand back their money, weeks after Hong Kong authorities announced a criminal insider dealing case against the hedge fund and its founder Simon Sadler.
The firm told investors that it would return external capital.
“We have always believed at Segantii that it is a great responsibility and privilege to professionally manage money — and we have never taken that lightly,” a spokesperson for the firm said on Thursday.
“We have decided, however, that at this time, it is in the best interests of our investors to return their capital in an orderly manner.”
Segantii, which was founded by Blackpool Football Club owner Sadler, grew into a dominant player in block trading, a corner of finance in which banks offload chunks of shares privately.
This is a developing story