January 21, 2016 / 7:57 AM / 4 years ago

Hedge fund Oceanwood's Opportunities Fund up 8.39 percent in 2015 - source

LONDON (Reuters) - European hedge fund Oceanwood Capital Management’s Opportunities Fund rose 8.39 percent in 2015, a source familiar with the matter said on Wednesday, and total assets stand at around $2.3 billion.

The fund, launched in 2006, stopped taking in money from new investors in late 2014 when it hit $2 billion.

Its performance last year, which takes its 3-year rolling performance to 34.83 percent, compares with an average performance for all hedge funds during 2015 of 1.56 percent, data from industry tracker Eurekahedge showed.

The source said the firm, a multi-strategy spin-out from Tudor Capital, had hired Matt Turner as chief operating officer, replacing Nick Chalmers, who moves to the new position of president.

Turner will be responsible for developing the firm’s execution and trade processing, among other duties, while Chalmers will focus on strategy and client-facing activities, the source said.

Reporting by Simon Jessop; Editing by Sinead Cruise and Ruth Pitchford

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