Bailey McCann, Opalesque, New York: Traxis Partners LP, the $1.2bn hedge fund of recently deceased Barton Biggs will be liquidating one of the vehicles he managed and moving the funds into another pool, Bloomberg reports. The Traxis Global Equity Macro Fund capital will be reinvested into the Traxis Fund, managed by Amer Bisat, Andy Skov and Krishen Sud. Investors who do not wish to have their capital reinvested will have the option to withdraw at the end of this month.|
The Traxis Global Equity Macro Fund was a $300m fund. According to a separate report in The Wall Street Journal Morgan Stanley is a strategic partner in the fund and will remain closely aligned with the firm. Amer Bisat and Andy Skov were both former Morgan Stanley employees.
Biggs started Traxis Partners after retiring from Morgan Stanley in 2003. He died this weekend after a period of illness. He is noted for predicting the .com crash three years before it happened.