Highfields Capital Returning Money to Investors After 20 Years
- CEO Jon Jacobson’s hedge fund manages $12.1 billion in assets
- Highfields has struggled with performance in last few years
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Investor Jon Jacobson is winding down his $12.1 billion hedge fund, joining other veteran managers who have exited the business as returns have faltered.
Jacobson, who started Highfields Capital Management in 1998, will begin returning client money at the end of year, according to a letter to investors Wednesday.