Lucidus Capital Partners, a high-yield credit fund founded in 2009 by former employees of Bruce Kovner’s Caxton Associates, has liquidated its entire portfolio and plans to return the $900m it has under management to investors next month, according to a statement Monday from the company.

‘The fund has exited all investments’, CEO Christon Burrows and Chief Investment Officer Geoffrey Sherry said in the statement obtained by Bloomberg News. ‘We would like to thank our investors and counterparties for their support over the years’.

Bloomberg News reports that a redemption notice from a significant investor in October triggered Lucidus’s decision to start winding down the portfolio and shedding staff, according to a person familiar with the fund’s operations, who asked not to be identified speaking about internal deliberations

Bloomberg News also that Third Avenue Management is parting ways with CEO David M. Barse after he announced plans last week to freeze redemptions in its troubled high-yield mutual fund, the Wall Street Journal reported, citing unidentified people familiar with the matter.

Barse was let go and isn’t allowed back in the building, the newspaper said, citing a security guard at the firm’s New York headquarters. 

Lucidus Has Liquidated $900 Million Credit Funds, Plans to Shut

Third Avenue Parts With CEO Barse as Fund Liquidates, WSJ Says