|Grant Capital Partners has become the latest victim of the uncooperative global macro market, shutting its doors after just three years. According to Financial Times, founder Geoff Grant is winding down his $1 billion hedge fund, which is down 6.2 percent for the year. |
Grant, who is a Goldman Sachs alum, cites the increasing difficulty in gaining any kind of “edge” in markets dominated by political events rather than economic events. Grant Capital Partners was the second unsuccessful venture by Geoff Grant who lost $3 billion in one week with his now defunct Peloton Partners hedge fund that focused on mortgage derivatives. Geoff Grant joins a growing list of high-profile macro hedge fund managers who have found the going incredibly rough in the last couple of years.