Hedge Funds

Bessent goes back to his macro roots

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Scott Bessent, the founder of $220 million long/short hedge fund group, Bessent Capital, has decided to shut down his two equity strategies to launch a global macro strategy. He is planning to roll the firm's existing assets into Bessent Global, which is expected to launch in October. At the new fund the ex-Soros fund management man, who headed up the group's global equity activities prior to setting up his own company in October 2000, plans to trade currencies, commodities and bonds alongside a core portfolio of equities. Bessent will no longer be subject to limits on the amount