Investment giant Brookfield is shuttering its $1 billion multi-strategy hedge fund
The multi-strategy fund launched in 2019 and managed $1.3 billion in assets earlier this year.Canadian asset management behemoth Brookfield Corporation is shutting down its multi-strategy hedge fund Brookfield Hedge Solutions Advisors.
BHS Advisors, a multi-strategy hedge fund platform within the $825 billion conglomerate, is winding down after four years, according to people familiar with the matter. It had 66 employees — including 38 investment professionals — and managed $1.3 billion in assets, according to a March securities filing.
A Brookfield spokesperson confirmed the decision:"We decided to wind down the fund to focus on other products." The move to shutter the group, first launched in 2019, was earlier reported by With Intelligence, which cited sources saying the fund faced challenges scaling the business.
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