(Bloomberg) -- The Swedish hedge fund manager Bodenholm Capital AB has decided to close its funds and return capital to investors.

“The funds have been liquidated in the best interest of our investors and the team will take a clean break from the industry for the foreseeable future,” the Stockholm-based hedge fund manager said in a letter to investors that was seen by Bloomberg News.

Bodenholm ran a long-short equity fund, which had about $1 billion of assets under management. Since the Bodenholm Two fund started trading in 2015 it had achieved returns of 26% through February, it says on its website. The firm is 41.3% owned by Brummer & Partners AB, with the remaining equity held by key personnel within Bodenholm.

Brummer said in a separate statement that the fund Brummer Multi-Strategy will redeem its shares in the Bodenholm funds on April 15.

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