Among the biggest losers from Thursday’s Swiss franc move are numerous small and large hedge funds. Not surprising, funds with short positions in the franc were especially hit hard, with liquidity disappearing to exit positions. Also reported to have experienced sizable losses were hedge funds engaged in providing liquidity to the forex market, and caught selling francs as the currency rose.

According to a report from Bloomberg, what could amount to one of the larger funds closing down due to being on the wrong side of the trade is Everest Capital Global Fund. The fund was Everest Capital’s largest, with $830 million in assets at the end of December 2014, per client documents. According to a Bloomberg source, the fund was closed after being wiped out on the franc move and losing most of its money due to having taken a large short position in the currency.

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Headquartered in Miami, Everest Capital is headed by Marko Dimitrijevic and was founded in 1990. Everest Capital Global had a stated strategy of using “top-down and bottom-up fundamental approaches to investing in developed and emerging markets” to “exploit longer term growth opportunities and investment themes.”