Geopolitical tensions which have made investing in China more difficult, have led to Yulan Capital Management, a hedge fund firm backed by Tiger Management, closing down its operations in New York and Shanghai, according to a report by Bloomberg.

The report cites unnamed sources with knowledge of the matter as confirming that the firm wound down operations in December and terminated its registration with the US Securities and Exchange Commission (SEC) at the end of January.

Yulan, which was founded ten years ago by Shanghai native Lilian Zhou to bet on rising and falling stocks in Asia, with a focus on companies in Greater China, according to the firm’s LinkedIn profile, secured backing from Julian Robertson’s Tiger Management. The firm last reported $439 million of assets in a March 2022 regulatory filing, including a $256 million separate management account for an undisclosed investor.