Pelham Capital’s main hedge fund lost about 10% in June as the U.K.’s shock decision to exit the European Union sparked turmoil in global equity markets, according to two people with knowledge of the matter.
Bloomberg News reports that the losses in Pelham Long/Short Fund, which managed $4.2bn at the end of May, left it down about 9% in the first half of the year, the people said, asking not to be identified because the information is private. A spokesman for Pelham Capital declined to comment.
The fund, one of the largest in Europe betting on rising and falling share values, had gained about 15% last year to earn a place in Bloomberg’s ranking of the top-performing hedge funds with assets of $1bn and up.
Goldman Sachs’s Petershill II fund has a stake in Pelham Capital, which is based in London. The firm was started in 2007 by former Lansdowne Partners money manager Ross Turner.
To access the complete Bloomberg News article hit the link below: