Segantii’s 16-Year Rise to Hedge Fund Glory Ends in an Instant

The legal heat became too much for Simon Sadler.

The founder of Segantii Capital Management has told investors that it’s winding down and returning their money, marking the end of a 16-year run for one of the largest and most successful hedge funds in Asia.

Sadler’s abrupt decision came just three weeks after authorities in Hong Kong charged him, his firm and one of its former traders with insider dealing, a crime punishable with as many as ten years in prison plus fines. Worried clients of the hedge fund asked to redeem nearly $1 billion of investments, and some major Wall ...