(Bloomberg) Hedge-fund manager Vikram Kumar, who returned 27 percent last year overseeing money for TT International, is preparing to separate from the London-based investment firm, according to a letter to investors.
Kumar is leading a team that will acquire management of the $496 million TT Long-Short Focus Fund and become independent next January. The firm, which manages about $6.2 billion, will retain a financial interest in the fund. Kumar and a spokesman for TT International confirmed the contents of the letter but declined further comment.
Kumar, 35, has managed the fund since it started in 2013. Last year it was the fifth-best performer in Bloomberg’s global ranking of the top 25 hedge funds overseeing between $250 million and $1 billion. The fund lost 2.9 percent in the first five months of 2016, compared with a 2.2 percent decline in the Eurekahedge Europe Long Short Equities Hedge Fund Index.
