(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.<\/p>\n
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.<\/p>\n
Kumar, 35, has managed the fund since it started in 2013. Last year it was the fifth-best performer in Bloomberg\u2019s 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.<\/p>\n