Deep Tide TechFlow News, Nov. 6 — According to a letter to investors from Walleye Capital, the hedge fund will scale back its internal equity long-short business, replace its leadership and a significant portion of its investment team, and plans to return some capital to investors. The amount, timing, and method will be announced separately.

Walleye lost 5.9% in October, its worst monthly performance since March 2020. The firm said its internal equity long-short business has been its weakest performer since 2023. Going forward, it will focus more on volatility, quantitative, and externally managed strategies, while retaining equity investments through external managers and high-conviction internal managers.

The financial research community Special Situations also compiled reports that Axebrook, Engineers Gate, Lone Pine, Millennium and Verition internal teams, as well as Samlyn, saw liquidations, large redemptions or team changes this week. Some of these reports have not been officially confirmed and should not be taken to mean that all the funds concerned have been liquidated.