Hedge Fund That Shorted GameStop Shuts Down

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Hedge Fund That Shorted GameStop Shuts Down

Wall Street Bets may have finally helped kill its first hedge fund today: White Square Capital, a London-based hedge fund that shorted GameStop, is shutting down according to the Financial Times. At its peak, White Square had $440 million in assets under management, but suffered double digit percent losses on its positions shorting Gamestop. The Financial Times reported the fund insisted its closure was unrelated to the rally, and a person close to the fund told the paper that it had earned back \"a fair share\" of the losses. Other big funds that suffered major losses on bets against GameStop include Melvin Capital, Light Street Capital, and short seller Citron. \"The traditional edge is being arbed away [eroded by other investors], there's an oversupply of capital.\"

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