Is Private Wealth The New Hedge Fund?

Source: Bloomberg

Seems like another hedge fund is returning all investor capital to give themselves "greater flexibility". BlueCrest will be managing the founders and original partners wealth. Is this the new hedge fund trend?

Via Bloomberg: http://www.bloomberg.com/news/articles/2015-12-01/michael-platt-s-bluecrest-to-return-all-outside-investor-money