Valinor Management, a New York-based hedge fund created by an alumnus of the prestigious Tiger Management, is winding down its fund, Business Insider has learned. The New York-based firm oversaw $2.5 billion in assets on behalf of six clients, according to its last regulatory filing at the end of March. Valinor sent an email to vendors on Tuesday evening notifying them it "has determined to begin the process of winding up its business operations and liquidating the funds' portfolios." The hedge fund industry was slammed by never-before-seen market volatility in March, but hasn't seen many notable closures during the pandemic.