Ex-York Capital Co-CIO Aurand’s Hedge Fund to Return Cash (1)

Christophe Aurand, the former co-chief investment officer of York Capital Management who started his own hedge fund about three years ago, is handing back capital to investors as returns failed to meet expectations.

His London-based Nekton Capital will focus on managing internal funds going forward, according to a person with knowledge of the matter. The firm’s assets peaked at more than $1 billion and it currently manages about $600 million, the person said, asking not to be identified because the details are private.

The stocks-focused, market-neutral hedge fund produced positive returns since launch but found it challenging to generate ...