Ex-Citadel Traders’ Hedge Fund Drops 25% After Blockbuster Debut
- London-based FIFTHDELTA was Europe’s biggest startup in 2021
- Fund has received new cash during months of losses, firm says
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Europe’s biggest hedge fund startup in 2021, founded by two former Citadel money managers Niall O’Keeffe and Tio Charbaghi, has suffered heavy losses.
Their FIFTHDELTA hedge fund that bets on rising and falling stocks lost about 13% in July, extending declines for 2023 to as much as 29% before paring year-to-date losses to 25%, people with knowledge of the matter said, asking not to be identified discussing confidential matter.