Year of the Exit: Veteran Hedge Fund Managers Leave Industry
- Blue Ridge, Eton Park and Hutchin Hill all closing their doors
- Hedge fund closures have outpaced launches for three years
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First came the wave of pension funds and other institutions stepping away from hedge funds. Now big-time managers themselves have decided they’ve had enough.
While hedge fund closures have been ticking up since 2014, this year has been different: the names have gotten bolder, their time in the industry longer and their assets under management greater. Richard Perry was the first marquee manager to drop in late 2016, followed this year by Eric Mindich and John Griffin. Even Paul Tudor Jones, one of the original macro managers, closed the fund that was supposed to help him promote his successors.