Hedge Funds Retreat as Markets Advance

By Anonymous

Shutdown of Tourbillon Capital Partners marks at least the third large hedge fund closure this month

Three hedge funds have closed in less than a week as investors question a once-highflying industry plagued by weak returns.

Tourbillon Capital Partners LP on Monday told clients it would return money and close its main fund. Last week, Highfields Capital Management and Criterion Capital Management announced they would return billions of dollars to clients.