Launches & Closures

Brummer pulls the plug on long-running Avenir fund


Brummer & Partners, the pioneering and diverse Stockholm-based hedge fund giant, has called time on one of its funds, the Nordic long/short equity vehicle Avenir, citing disappointing performance.

Managed from Helsinki in Finland by a team headed by Peter Ramsay, Avenir was a substantial fund, still managing some $435 million as of 30 September last year. It was also a long-running vehicle, with a track record dating back to December 2000.

In a statement to the EuroHedge database, Brummer explained that “Avenir’s performance over a long period of time has not met expectations.”

After losing only 9% during