Marshall Wace is preparing to hand back billions of dollars to investors from two of its main hedge fund strategies, joining peers in spurning cash to keep asset growth in check.
The London-based hedge fund firm is planning to return about $3.1 billion to clients, a move that would reduce its assets under management to about $75 billion, a person with knowledge of the plan said. Most of the capital will come from Marshall Wace’s Eureka fund, with about $765 million from the hedge fund portion of Marshall Wace TOPS, the person said, asking not to be identified as the plan is private.