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Hedge Fund Pelorus Jack Capital Is Said to Close After One Year

(Bloomberg) Pelorus Jack Capital, a long-short equity hedge fund started by an alum of John Burbank’s Passport Capital, is shutting after about a year of trading, according to people with knowledge of the matter. The firm raised almost $250 million when it started trading in April 2017, according to investor updates seen by Bloomberg. The Pelorus Jack Onshore Fund had lost 2.5 percent between April and November of last year, the updates show. Tim Garry, who founded the firm after about nine years at Passport, didn’t immediately respond to an email seeking comment.

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