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New York-based investment management company Brahman Capital Corp is closing one of its equity hedge fund and returning cash to its clients, Bloomberg News reported on Thursday, citing people familiar with the matter. The fund has lost money in the last two years, including an 18% decline in 2022, and has been flat this year through April, the report said, citing documents seen by Bloomberg. The Federal Reserve's interest rate hike cycle left investors in uncertain waters for the majority of last year, with extreme market volatility adding to massive outflows in the hedge fund industry.