Martin Taylor, who shuttered Nevsky Capital more than three years ago, has returned to the industry with the biggest hedge fund startup in Europe this year. His London-based Crake Asset Management has raised about $1.6 billion and started trading on Oct. 1, according to a person with knowledge of the matter. The fund has commitments to take in another $150 million, though it’s closed it to new money for the next two years, said the person, who asked not to be identified because the information is private.