Veteran U.S. money manager Louis Bacon plans to close his New York-based hedge fund Moore Capital Management and return capital to investors, the Financial Times reported on Thursday citing people familiar with the situation.

The FT report said the decision to shut the fund after three decades follows years of weak performance at Moore's hedge funds.

Bacon, 63, founded Moore Capital, which, along with its affiliates, is a private investment management firm with offices in New York, London and Hong Kong.

Both Bacon and Moore Capital did not immediately respond to Reuters' request for a comment on the news article outside of business hours. (Reporting by Muvija M in Bengaluru; Editing by Rashmi Aich)