(Bloomberg) -- Harvard-backed TPRV Capital is shutting down its hedge fund after investors pulled their cash. After three-and-a-half years, “we are unwinding the fund and returning all remaining capital to our investors,” the firm wrote in a letter to clients Friday. Institutional investors have been redeeming either due to disappointment over the fund’s performance or because they were reallocating their cash away from fixed-income relative value or volatility strategies, Chief Operating Officer Luca Toscani said in an interview.