Canadian asset management firm Brookfield Corporation is closing down Brookfield Hedge Solutions Advisors, a $1.3bn multi-strategy hedge fund platform within the $825 billion conglomerate, according to a report by Business Insider.

Canadian asset management firm Brookfield Corporation is closing down Brookfield Hedge Solutions Advisors (BHS Advisors), a $1.3bn multi-strategy hedge fund platform within the $825 billion conglomerate, according to a report by Business Insider.

The report cites unnamed sources with knowledge of the matter as confirming that BHS Advisors is to wind down operations after four years.  

According to a securities filing made in March, the business had 66 employees, including 38 investment professionals.

While multi-strategy majors including Citadel, Millennium, and Point72, have attracted billions of dollars in recent years, BHS Advisors has struggled to scale its operation, and according to a Brookfield spokesperson, the decision to wind down the fund has been taken to allow the company to "focus on other products".