Night Square Capital Partners Said To Close As Founders Join Citadel

Feb 16 2017 | 9:25pm ET

New York-based long/short equity hedge fund Night Square Capital Partners is reportedly closing its doors. 

Its two founders, Neel Parekh and Michael Berkley, will join Ken Griffin’s $26 billion manager Citadel, according to a Reuters article citing an unidentified source familiar with the plans. The two founded Night Square in 2015 after stints at tiger cub Tiger Consumer Management, seeded by famed investor Julian Robertson and shuttered that same year. 

The firm invested approximately $200 million in primarily consumer stocks, the article said, including stakes in Lowe’s and Dick’s Sporting Goods. It reportedly returned approximately 4% last year.

Parekh and Berkley will join Citadel’s new Aptigon unit, which utilizes a similar market-neutral approach as Citadel’s other equity teams in support of the company’s flagship Wellington and Kensington funds. 

Led by former Diamondback Capital executive Richard Schimel, Aptigon lifted a 17-manager global long/short equity team out of beleaguered asset manager Visium last summer. In December, former Ardmore Global Investors founder Chris Connor also came aboard Aptigon after shuttering his fund.

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