-- (Updates throughout with AllianceBernstein statement.)
AllianceBernstein (AB) has shut its multi-manager fund AB Arya, which was part of its $6 billion hedge fund platform, the company said Wednesday in a statement emailed to.
AllianceBernstein said it expects 95% of liquidation proceeds from AB Arya to be available and distributed in June.
Bloomberg, which first reported the news, said the closure reflects increasing pressure on multi-strategy hedge fund challengers in a space dominated by larger firms like Millennium Management, Citadel and DE Shaw & Co.
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