(Bloomberg) Saka Capital, the money manager started seven years ago by a former Lehman Brothers Holdings Inc. trader, is closing its credit hedge fund as record-low interest rates put a damper on returns.
The Singapore-based asset manager is liquidating the SakaCapital Liquid Credit Fund and returning money to investors, Chief Executive Officer Assan Din said in an interview. The vehicle, whose assets peaked at $350 million in 2012, stopped trading in July this year. The firm is converting into a multi-asset family office, focusing on real estate, equities, debt, and currencies, and will invest money for the management team and people close to them.
