London-based hedge fund that bet against GameStop shuts down

White Square suffered double-digit per cent losses in January, the report added.
White Square suffered double-digit per cent losses in January, the report added.PHOTO: REUTERS

BENGALURU (REUTERS) - A London-based hedge fund that suffered losses betting against United States retailer GameStop during the first meme stock rally in January is shutting down, the Financial Times reported on Tuesday (June 22).

White Square Capital has told investors that it will shut its main fund and return capital this month after a review of its business model, the newspaper said, citing people familiar with the fund and a letter to investors.

White Square suffered double-digit per cent losses in January, the report added.

The firm did not respond to a Reuters request for comment outside of regular British business hours.