Forada to Close $1bn Double-Leverage Macro Fund to New Investors

Forada, a London-based hedge fund manager, plans to close its recently launched double-leveraged macro fund to new investors after raising about $1 billion within months of its early-2026 launch. The firm could bar further inflows as early as July. The vehicle uses roughly twice the leverage of Forada’s existing fund structure.

Most of the inflows came from new investors, and several clients from Forada’s original fund also moved capital into the higher-leverage vehicle, according to a person familiar with the matter.

Forada launched the fund at the start of 2026 to offer a more aggressive exposure to its macro trading approach, focusing on global interest-rate and fixed-income markets.

According to the person, Forada’s original strategy, launched in 2016, has produced annualised returns of 7.9% since inception. Through the end of May the original fund returned 2.6% year-to-date, while the double-leveraged vehicle returned 4.2% over the same period.

The fundraising lifted the firm’s assets under management to a record $3.4 billion, including assets managed through separately managed account structures. Investors in the fund include multi-manager firm ExodusPoint Capital Management.

Forada was founded by Jon Ridgway, the former head of European fixed income rates trading at Barclays. The firm has built its track record on macro-focused trading across rates and credit markets.

A Forada spokesperson declined to comment on plans to restrict new capital for the double-leveraged fund.