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Lansdowne to Shut Main Hedge Fund in Retreat From Shorting

  • Firm to shut the $2.8 billion Lansdowne Developed Markets Fund
  • Move comes after fund was hit with some of its worst losses
Updated on

Lansdowne Partners is shutting its main hedge fund in a shift away from short-selling after being hit by some of its worst-ever losses.

The London-based investment firm is closing the $2.8 billion Lansdowne Developed Markets Fund, according to a letter to investors seen by Bloomberg. Clients can withdraw their money or move it into the Lansdowne Developed Markets Long Only Fund or a new LDM Opportunities Fund, which will invest in early-stage companies. The firm will continue to bet against companies in some of its other funds.