Everett Capital, a London hedge fund to return investors’ capital

Everett Capital Advisors, a London hedge fund, is returning capital to investors. 

Kelly Hampul, an industry veteran, founded the hedge fund in 2015. He is a former money manager at the New York-based Taconic Capital Advisors.

According to the investor documents seen by Bloomberg, he began trading with about $140 million and grew assets to more than $600 million by 2018.

Everett made money by betting on corporate events such as mergers and acquisitions. The firm became one of the most successful European startups in recent years.

The hedge fund industry generally has struggled to regain investors’ confidence in recent years. Torrential outflows show that $87.9 billion was pulled out of funds in the 10 months through October. It was more than twice as much as in all of last year, according to eVestment data. 

According to data from Eurekahedge, that has contributed to more funds closing than opening for the past four years.

It’s unclear what Hampaul plans to do with the firm after returning investors’ capital. 

Hampaul didn’t respond to a phone call and emails seeking comment. A spokesman for London-based Everett also declined to comment.