Walleye Cuts Credit, Commodities Teams to Focus on Core Groups

Walleye Capital dismissed its credit and commodities teams, eliminating those strategies as the hedge fund focuses on volatility, quantitative and fundamental long-short investing.

The multistrategy hedge fund cut Ed Lee, along with his six-person long-short credit team, and a commodities duo of Thomas Capoccia and Allen Chan, according to a person familiar with the matter, who asked not to be identified because the dismissals aren’t public.

Each strategy was less than 1% of the firm’s total risk, the person said. A representative for New York-based Walleye declined to comment.

Lee, Capoccia and Chan didn’t return requests for comment.

The ...