Echo Street to Return Hedge Fund Cash, Focus on Other Strategies
- $2 billion market-neutral hedge fund is down about 9% in 2020
- Firm continuing $6 billion long-only fund, adding new vehicle
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Echo Street Capital Management is giving back investor money in its $2 billion market-neutral hedge fund.
The firm will continue its long-only fund, which holds about $6 billion and is likely to close to new investors in the coming months, said a person briefed on the matter, who asked not to be named as the information is private.