London-based multi-manager hedge fund Eisler Capital is set to shut down after struggling to meet performance expectations and facing rising costs to attract and retain top trading talent, according to a report by the Financial Times.

The report cites an investor letter seen by the FT as confirming that the firm, which managed approximately $4bn in assets at its peak, has suspended investor redemptions to allow an orderly wind-down of its multi-strategy portfolio. Edward Eisler, founder and CIO, said the fund’s performance had not kept pace with expectations, delivering a compound net annual return of 7% since its 2021 launch.

Eisler, a former co-head of Goldman Sachs’ global markets division, had sought to build a multi-manager platform to rival industry giants such as Citadel, Millennium, and Point72. Multi-manager funds, which employ multiple portfolio teams supported by analysts across asset classes, often incur high costs in talent and infrastructure. Eisler struggled to balance these expenses while keeping the cost structure palatable for investors.

The fund posted a 1.7% loss in 2025, following gains of 3% in 2024, 9.8% in 2023, and 15% in 2022, highlighting a slowdown amid intense competition for skilled traders. In the letter, Eisler confirmed the fund would complete the portfolio wind-down by year-end, with initial payments to investors expected shortly after.