Launches & Closures

Brummer liquidates Karakoram fund

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Brummer & Partners of Stockholm has liquidated its Karakoram fund, a long/short Asia ex-Japan strategy that was run by Singapore-based Ee Toh Chia, with money returned to investors.

The fund, launched in July 2009 with $50 million in initial capital, “failed to meet expectations”, according to a statement to investors by the firm.  Karakoram had reportedly lost 18.2% in 11 months up to the end of November 2010 and is thought to have had $240 million in AUM at the time of liquidation, with most of the capital stemming from the Brummer Multi-Strategy fund.

Brummer is one of Europe’s