The Wall Street Journal is reporting today that Astenbeck Capital Management LLC, a hedge fund run by star oil trader, Andrew Hall, is shutting down its flagship fund after a key investor initiated a redemption. The fund shutdown is another one of the many fund wind downs over the past year or two, as asset owners shy away from hedge fund strategies (and even active managers) in their quest for alpha at lower cost. Hall is notable for his $100 million payday during the peak of the financial crisis from Citigroup (which acquired his firm Phibro from Occidental). The number was astronomic but apparently well deserved and contractual as Hall generated billions in profits for his firm in 2008/09. In any case, although the net number of private funds continues to decline, investment management, and namely, hedge fund strategies, will continue to be household items.