Quant hedge fund Seven Eight Capital is winding down, according to people familiar with the matter. The fund managed around $500 million at its peak and traded for Schonfeld for many years. Quant hedge fund Seven Eight Capital, which for many years invested money for Schonfeld Strategic Advisors, is winding down, according to people familiar with the matter. AdvertisementSeven Eight Capital is closing as a hedge fund and will cut most of its staff after two large investors redeemed capital, the people said, asking to remain anonymous because the information isn't public. The firm could continue to operate in some capacity, the people said, potentially as a separately managed account for an existing hedge fund.

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Persons: Adrian Sisser, Sisser, Stephen Cash Organizations: Schonfeld, Schonfeld Strategic Advisors, Bank Locations: Schonfeld