Hedge Funds

Davy's DKR Nexus 'closes'

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DKR Capital will close its DKR Nexus Global Fund, run by Darren Davy, to new investors when assets - currently at $550 million - hit about $650 million. The firm plans to close the fund to fresh capital entirely after it reaches $1 billion.

Davy launched the firm last summer with a modest amount of capital, but has attracted additional capital through solid performance. The fund netted about 4.25% through to the end of April.

Davy set up the Bermuda-based vehicle with the backing of Stamford-based DKR following his departure from Soros. Davy had been under exclusive contract with