Quant hedge fund Seven Eight Capital, which for many years invested money for Schonfeld Strategic Advisors, is winding down, according to people familiar with the matter. Seven Eight Capital is closing as a hedge fund and will cut most of its staff after two large investors redeemed capital, the people said, asking to remain anonymous because the information isn't public. The firm could continue to operate in some capacity, the people said, potentially as a separately managed account for an existing hedge fund.