Carlyle’s ESG Nexus Fund Falls 43% as Bearish China Bet Sours

(Bloomberg) A hedge fund managed by Carlyle Group LP’s Emerging Sovereign Group plunged 43 percent this year through August as its wager against China soured. Brian McCarthy’s Nexus fund saw assets erode to $125 million from roughly $500 million at the start of 2016, according to an investor document viewed by Bloomberg. This year’s loss marks a reversal from 2015, when the fund rose 35 percent.

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