Hedge Funds

Moore gets into giveback game

by

Louis Bacon's Moore Capital is handing back $485 million of the assets in its Moore Global Fixed-Income Fund to investors. The givebacks are part of an effort to manage the firm's asset base and are said to be the first profit distribution in the history of the fund.

Moore's givebacks come on the heels of news that Kynikos Associates is returning more than $200 million to investors in Kynikos Opportunity Fund, in very different circumstances. Just two months after the launch, the firm said in a letter to investors that it was unable to