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Woodbine Capital Hedge Fund Said to Return Client Money

Joshua Berkowitz, who started hedge-fund firm Woodbine Capital Advisors LP on the heels of producing a 121 percent gain as a trader for billionaire George Soros in 2008, is returning client money after failing to meet performance goals, a person briefed on the matter said.

The manager told clients in a letter yesterday that he will give back their capital at the end of the month, said the person, who asked not to be identified because the information is private. Todd Fogarty, a spokesman for New York-based Woodbine at Kekst & Co., declined to comment on the plans.