Hedge Funds

Arrowgrass soft-closes Billett's equity fund after a strong start


Arrowgrass, the well-performing multi-strategy hedge fund group led by ex-Deutsche Bank trader Nick Niell, is set to soft-close its recently launched European long/short fund in the latest sign of increasing enthusiasm among investors to back new funds.

Henry Kenner

Launched in May and managed by former SAC and Meditor man Andy Billett, the Arrowgrass Equity Focus Fund has attracted good support from institutional investors and is already close to its initial capital target of €250 million.

The fund, which is focused on liquid large-cap European stocks, has got off to a strong start - returning more than