Platt’s BlueCrest Returning Assets To Customers

Citing a changing hedge fund land scape, lowered fees and fund profitability and a desire to manage money without significant constraint, the $8 billion hedge fund BlueCrest Capital Management is going the way of SAC Capital and becoming a family office to manage its own money. In an email sent to investors and reviewed by ValueWalk, Michael Platt, the fund’s founder, said investors should receive all their money near the end of the first quarter 2016, with distributions starting in January 2016. BlueCrest cites industry developments and downward pressure on fees among issues for closing the firm “Recent developments in…