Atticus Capital, a large broker of hedge funds, is closing a flagship fund as well as a smaller fund. The founder, Timothy Barakett, cited "solely personal reasons" for the decision.
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.
Comment and add to the story without registration, but keep the comments meaningful please. Links are not accepted.
