Bacon-backed Hedge Fund Stone Milliner Asset Management to Shutter

Posted on 11/27/2019

London-based Stone Milliner Asset Management, LLP is a macro hedge fund founded in 2011 that has its origins with former Moore Capital Management traders – Jens-Peter Stein, Kornelius Klobucar, and Chris Nicoll. Stone Milliner Asset Management is shutting down after poor performance, which then led to client redemptions. At the end of October 2019, Stone Milliner Asset Management oversaw roughly US$ 3 billion in assets from its US$ 6.1 billion peak. Moore Capital Management provided seed funding for Stone Milliner Asset Management.

Moore Capital Management was founded by Louis Bacon. Bacon disclosed he was closing down Moore Capital Management.