Everest To Shut Big Fund Amid Big Losses On Swiss Franc Bet

Marko Dimitrijevic is closing his largest hedge fund, Everest Capital's Global Fund, after losing virtually all its money last week following the Swiss National Bank's removal of the three-year-old cap on the franc against the euro, according to a Bloomberg report. Citing people familiar with the development, the Bloomberg report said Everest Capital’s Global Fund had been betting that the Swiss franc would decline.

Everest Capital had $830 million in assets

Dimitrijevic has survived at least five emerging market debt crisis. Everest Capital’s Global Fund had about $830 million in assets as of the end of...