Brahman shutters stock-picking hedge fund after over 30 years
26/05/2023 - 10:59am
Brahman Capital Corp's stock-picking hedge fund is to close after over 30 years of trading following losses in the past two years, according to a report by Bloomberg, citing unnamed sources familiar with the matter.
The report refers to documents seen by Bloomberg as revealing that the fund, which is flat so far in 2023, was down 18% in 2022.
Brahman is set to return less than half of its $1.1 billion assets to clients as part of the closure with investors receiving most of their returned capital by mid-June.
The firm is to continue running its long-only fund, which is up 3.1% this year through April, compared with the S&P 500’s 8.6% gain.