Hedge Funds Close Doors, Facing Low Returns and Investor Scrutiny
By
Julian Robertson, founder of Tiger Management. This year, three funds it spun out have closed.CreditVaughan Leighton Brookfield for The New York Times
For decades, nearly everything that the billionaire Julian Robertsontouched turned to gold. Mr. Robertson, founder of the hedge fund Tiger Management, seeded a network of hugely successful “Tiger Cubs” — companies that in turn seeded more talent. It became the closest thing the hedge fund industry had to a dynasty.
Since the start of this year, however, the managers of three firms spun out of that gilded empire have called it quits after volatile performances and sometimes steep losses. They will return money to investors and focus on managing their own wealth…
Hedge Funds Close Doors, Facing Low Returns and Investor Scrutiny
