(Bloomberg) -- John Brynjolfsson, after creating an $80 billion asset management business at Pimco and a $1 billion hedge fund on his own, will downsize to a $16 million mutual fund during the next stage of his career.

Brynjolfsson, who is closing his Armored Wolf hedge fund he started after leaving Pimco in 2008, plans to join James Alpha Advisors. He and Tim Alford, a portfolio manager at Armored Wolf, will run the $16.4 million James Alpha Global Enhanced Real Return Fund, James Vitalie, the firm’s chief executive officer, said in an interview.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.