Three year old Sorrell Capital shuts up shop

 
Michael Bow
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SORRELL Capital, the London hedge fund founded by former Goldman Sachs banker Robert Sorrell, has closed its flagship macro fund, according to account filings.

Sorrell, the son of WPP chief executive Sir Martin Sorrell, closed the fund in May 2013.

Accounts filed at Companies House in December show the parent company fell to an annual loss of £11,288 for the year ending March 2013, although it is unclear if this was the reason for the fund’s closure.

The losses had widened from £8,220 in the previous year.

“The designated members are exploring further business ventures which will generate revenues in the near future,” the filing, details of which were first reported by Financial News, said. Sorrell Capital was launched in October 2010 with Sir Martin Sorrell as a non-executive director and an investor in the hedge fund, which ran a global macro strategy.

Robert Sorrell, 39, had previously spent 14 years at Goldman where he was made a managing director in 2006 before being tasked with setting up its private finance unit.

Sorrell’s siblings have also both worked at Goldman, with Jonathan Sorrell leaving the bank in 2012 to join hedge fund Man Group.

Mark Sorrell, who works in M&A, was made partner at Goldman in 2010 and won City A.M. dealmaker of the year award in 2012. Robert Sorrell could not be contacted for comment yesterday.