Chris Levett, who shut his commodity hedge-fund firm in 2013 after it posted almost three straight years of losses, plans to return to the industry with billionaire Louis Bacon’s Moore Capital Management LLC.

Levett, 44, will join New York-based Moore in London in September as a money manager, a spokesman for the New York-based firm said today. He managed as much as $5.1 billion at Clive Capital LLP in 2011, making it one of the biggest commodity funds in the world at the time. Levett previously worked at Moore before starting Clive in 2007.

Levett is among hedge-fund managers moving to established firms to focus on trading, without the added responsibilities of running a business and fundraising. Man Group Plc announced in May that Pierre-Henri Flamand would join the company as a senior money manager after the former head of Goldman Sachs Group Inc.’s biggest proprietary-trading desk failed to make money for investors at his own hedge-fund firm.

Levett declined to comment on his return to Moore.

Clive, based in London, closed after its hedge fund fell 9.1 percent through Sept. 18 of last year, 8.8 percent in 2012 and about 10 percent in 2011, according to company performance reports. It was hurt by price swings in markets ranging from oil to wheat that had whipsawed traders since 2011.

The losses prompted clients to pull money, reducing Clive’s assets under management to about $1 billion at the time Levett shut it last September. Clive had previously posted investment gains of 20 percent in 2010, 17 percent in 2009 and 44 percent in 2008.

Before his first stint at Moore Capital, which manages about $15 billion, Levett worked at trading firm Commodities Corp. He started his investing career in 1992 at American International Group Inc., where he traded oil.

At least one other former Clive trader has already gone to work for Moore in London. Tristan Almada, 29, who ran an internal hedge fund at Clive, joined Moore in April, U.K. Financial Conduct Authority records show.

Bacon, 57, has been adding investment staff in Europe. Michael Pringle, Citigroup Inc.’s global head of equities trading, left last month for Moore and a number of traders joined the hedge-fund firm in February from SAC Capital Advisors LP’s shuttered London office.