Hedge Fund JAI To Close

Apr 20 2011 | 1:36pm ET

A Soros Fund Management veteran is pulling the plug on his two-year-old hedge fund.

Michael Takata, a former stock manager at Soros, and Michael Ryan, formerly head of global equities and fixed-income at Credit Suisse Group, have decided to shutter their JAI Capital Management. The firm was launch in June 2009 with $150 million.

JAI ran a global opportunistic long/short strategy HFMWeek reports. It is unclear what left Takata and Ryan to decide to shutter the firm.

HedgeFund.net reports that a person at JAI’s New York office said that the firm was no longer operating there.

JAI is actually the second hedge fund co-founded by Takata, who also helped launch Ulysses Management. He also formerly worked at Pequot Capital and Odyssey Investment Partners, before spending two years at Soros.

In addition to his work at Credit Suisse, Ryan is an 18-year veteran of Goldman Sachs.

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