Moore Cuts Staff In Wake Of Returning $2 Billion

Sep 13 2012 | 7:56am ET

Moore Capital Management has parted ways with as many as 15 investment professionals as part of a restructuring.

The New York-based hedge fund, which announced plans to return $2 billion to investors last month due to a lack of investment opportunities, has been restructuring its equity teams. Firm founder Louis Bacon hired his brother, Zack, in February to lead strategic planning at the firm.

That effort has led to the loss of 10 to 15 investment positions, Bloomberg News reports. The layoffs came on Tuesday.

In March, Moore said it had 208 members on its investment team.

Moore's Global Investments Fund is up just 0.8% this year.

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