UPDATE 1-Blackstone-backed Denjoy Capital to shut down hedge fund

April 23, 2015 11:44 AM

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LONDON/BOSTON, April 23 (Reuters) - London-based Denjoy Capital Partners, backed by powerful investor Blackstone Group , is shutting down its European long-short equity hedge fund following a slump in returns, a letter to investors seen by Reuters showed.

Hedge funds were hit hard in Europe last year due to poor returns and rising costs as a result of a growing regulatory burden, which has led to a record number shutting.

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