By Nishant Kumar
LONDON (Reuters) - Europe-focused hedge fund Oceanwood Capital Management is closing its fund to new investors after its assets under management hit $2 billion (1 billion pounds) recently, a source with direct knowledge of the matter said.
Oceanwood, a multi-strategy hedge fund spinout from Tudor Group, started the year at $1.28 billion and raised money this year from clients including a $50 million investment from School Employees Retirement System of Ohio (SERS).
"We plan to take some time to digest the recent growth, as well as ensure that we have the appropriate level of infrastructure and resources in all areas of the organisation," the source said, citing a letter to investors sent by Oceanwood.
Hedge funds often close doors to investors for fear that taking on more assets would harm returns.
Oceanwood Opportunities Fund, led by Chief Investment Officer Christopher Gate, a former Goldman Sachs executive, returned 1.34 percent through September this year after gaining 22 percent in 2013 and 25 percent in 2012.
Andrew Honnor, a spokesman for Oceanwood, declined to comment.
(Reporting by Nishant Kumar; Editing by Michael Urquhart)