Macro Hedge Fund Stone Milliner Confirms 'Orderly Wind Down'

London-based macro hedge fund Stone Milliner Asset Management confirmed it is winding down and returning all capital and assets to investors by December.

"We can confirm that Stone Milliner is conducting an orderly winding down, the firm is returning all capital/assets to investors by December," a spokesperson for the firm commented in an e-mail to StreetInsider.com. "All employees, investors have been notified and we are in the process of notifying all the relevant authorities."

Bloomberg News first reported about the closure on Tuesday.

Stone Milliner was backed by legendary investor Louis Bacon, who made his own headlines last week on news he was shutting Moore Capital Management to outside money.

The firm, founded by former Moore Capital traders Jens-Peter Stein, Kornelius Klobucar and Chris Nicoll, oversaw $3 billion at the end of October, according to Bloomberg. This is down from $6 billion at its peak.

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