Chris Rokos booked profits of more than $4bn during his decade as a trader at Brevan Howard Asset Management.
Hedge funds are shutting at a rate not seen since the financial crisis, as many managers post disappointing returns and an elite group of firms dominate money raising.
Brevan Howard Asset Management, the hedge-fund firm that oversees $37bn, is shutting its commodity hedge fund run by Stephane Nicolas after losses this year, according to two people with knowledge of the matter.
Word Monday that Brevan Howard Asset Management was closing its emerging-markets fund hit a nerve with other fund managers focusing on developing economies, many of whom have had a tough start to the year.
Brevan Howard Asset Management, the U.K. unit of Europe’s largest closely held hedge-fund firm, paid its partners as much as $99m for the year through March, according to a corporate filing.
Brevan Howard Asset Management LLP, Europe’s second-biggest hedge fund, is rebuilding in the U.S. after largely pulling out during the 2008 financial crisis.