Launches & Closures

JCAM shuts flagship fund, plans new liquid credit trading strategy


James Caird Asset Management, the $1.9 billion London and New York-based hedge fund led by former Moore credit managers Tim Leslie and Robert Miller that span out from Moore in 2008, is liquidating its flagship JCAM Global Fund and returning capital to investors in a reorganisation aimed at adapting to long-term structural changes in the global credit markets.

The firm plans to launch a new fund run by Miller that will focus solely on liquid global credit trading – which will have a smaller capacity of some $700-750 million than the multi-strategy credit and equity JCAM Global fund,