UBS star Jonathan Wood raised $3 billion to start hedge fund SRM Global in 2006. There's $450 million left. Also, investors can't get their remaining pennies out, because they agreed at the onset to stay invested for five years. WSJ:

Mr. Wood's SRM Global Master Fund raised about $3 billion in one of the largest European hedge-fund launches ever when Mr. Wood founded it in September 2006, along with several other former UBS colleagues.

Mr. Wood generally takes a long-term approach to investing. His flagship SRM Global Master Fund holds large equity positions in companies involved in mergers, financial restructurings and other corporate actions. [Unfortunately, the bets included Bear Stearns, Countrywide, etc...]

This year, the hedge fund was down about 77% through July, which comes on top of a roughly 34% decline last year, the person familiar with the returns said. From the fund's 2006 launch to the end of July, the S&P 500 index was down 3.3%.

See Also: Hedge Funds Have Worst Month In Five Years