Berry Street Capital, a London- headquartered hedge fund run by Ex-Paulson Partner Orkun Kilic, is shutting down, according to a report by Bloomberg.

The report quoted Killic as saying that the hedge fund was closing due to high interest rates and a challenging regulatory environment. The hedge fund was established in 2019 and was backed by Schonfeld and Partners Capital. At its peak it over saw $900m, following an event driven strategy.

At the time of announcing the decision to close, Berry Street had $575m in AUM, and had seen losses of 4.2% in the nine months through September, according to the report.