(Bloomberg) -- Infinity Q Capital Management is seeking regulatory permission to suspend redemptions for a $1.8 billion mutual fund because it’s currently unable to calculate the net value of the fund’s assets.The New York-based money manager plans to shut down the Infinity Q Diversified Alpha Fund once it determines the values of assets including swap contracts that comprise about 18% of the fund, according to documents filed with the U.S. Securities and Exchange Commission.

“The fund was unable to calculate an NAV on February 19, 2021, and it is uncertain when the fund will be able to” so as to satisfy requests for redemptions, the firm said in the filing.

Leonard Potter, the non-executive chairman of New York-based Infinity Q, wasn’t immediately available for comment. Tom Johnson, an outside spokesman for Infinity Q at Abernathy MacGregor, declined immediate comment.

Infinity Q is majority owned by James Velissaris, the firm’s chief investment officer, according to regulatory filings. David Bonderman, the co-founder of the private equity firm TPG Capital, holds a minority stake in Infinity Q through his family office, according to filings and Johnson, the spokesman.

The Diversified Alpha Fund’s institutional shares have gained almost 1% year-to-date, performance that ranked below almost 90% of its peers, according to data compiled by Bloomberg.

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