Atticus Capital Closing Two Funds

Atticus Capital had three funds in total. It will return about $3 billion to shareholders. It will continue to manage the $1.2 billion Atticus European Fund.

Timothy Barakett will close the $3.5 billion Atticus Global Fund as well as a $600 million fund he manages. Atticus Capital, like many hedge funds, took a big hit when the stock market took a tumble last year.

According to a statement released by Atticus Capital founder Timothy Barrett,

“My decision is solely a personal one. After 15 years of being singularly focused on building and managing Atticus, I believe it is time to reassess my future.”

Atticus Capital expects to return 95% of investors’ money by the beginning of October, the statement read.