Tourbillon Hedge Fund to Return $1 Billion in Latest Closure
- Founder plans to focus on health and wellness industries
- Karp started Tourbillon in 2012 and lost money this year
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Another week, another hedge fund closure.
Jason Karp, who six years ago started his Tourbillon Capital Partners, is closing his main fund after losses, effectively saying that the hedge fund model is broken. He plans to return the more than $1 billion to investors at the end of the year, according to a letter sent to clients Monday that was viewed by Bloomberg News.