Launches & Closures Funds of Hedge Funds

Schonfeld closes the door on its niche strategies business


SB Schonfeld Fund Advisors is shutting up shop after less than two years offering a niche fund of hedge fund strategies to external investors.

A spokesman for the firm declined to comment, but the group is said to be winding down its investments over a set period of time in order to focus on its proprietary trading business.

Internal assets of employees will continue to be deployed in the fund of funds format, as staffers associated with the fund business will move to other roles within Schonfeld Securities, the proprietary trading business founded 20