Louis Bacon to Shutter Hedge Fund Moore Capital

November 21, 2019 | Fund Updates, Hedge Funds, Investments, News
https://dailyalts.com/wp-content/uploads/2019/11/Louis-Bacon-e1574350565428.png

High-profile managers continue the trend of returning capital to investors

Louis Bacon will close his New York hedge fund Moore Capital and return money to investors. The Financial Times first reported the story on Thursday morning. The decision comes after three decades of tepid performance by the money managers’ hedge funds.

The FT report indicates that Moore’s macro hedge funds saw years of outflows as well. The firm’s AUM dipped over the last 10 years to roughly $8.9 billion at the end of 2018.

Louis Bacon is the Latest Hedge Fund Manager to Walk Away

Louis Bacon joins a number of prominent managers to return capital to investors in recent years. The FT notes the decisions by Leon Cooperman and Michael Platt to return capital to outside investors. Steven Cohen also returned capital and converted to a family office strategy with Point72 Asset Management.

These decisions come at a challenging time for hedge funds. Investor pressure over management fees combined with increased regulatory scrutiny is weighing on managers.

Prior to his decision, Bacon had recommended that investors follow Joeri Jacobs, one of Moore Capital’s top-performing managers to a new fund. However, the FT doesn’t know the results of this pitch and if Jacobs has raised capital. Before returning the money, Bacon can step back and look at all that his fund has accomplished. Through 2018, Moore Capital generated $18.3 billion in returns for investors. LCH Investments’ data notes that Moore Capital is the 15th most profitable hedge fund in sector history.

Related: Hedge Fund Manager David Tepper Lays Out Family Office Plan

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Alt Insights

January 29, 2020

Venture Capital: The Kobe in “Bryant Stibel & Co”

Venture Capital: The Kobe in “Bryant Stibel & Co”
Shape

Latest Alternative Investment News

Hedge Funds: Four Portfolio Managers Leave Citadel
April 6, 2020     Hedge Funds, News

Volatility has shaken the markets. The Dow had its worst quarter in history. The U.S. economy could see GDP fall by 30% this quarter. And four portfolio managers at Citadel…

https://dailyalts.com/wp-content/uploads/2020/04/54e8dc424253a514f1dc8460c62c3e761c3dd6f85254794f742679dd924f_640.jpg
Private Equity: Silver Lake Partners Pushes Massive $16 Billion Fund
April 6, 2020     Latest News, News, Private Equity

Silver Lake Partners is going big with its latest fund. The technology-focused private equity fund wants to raise a new fund worth $16 billion. Raising funds as market prices have…

https://dailyalts.com/wp-content/uploads/2020/04/waterfall-1081997_640-esg-etfs.jpg
Liquid Alternatives: How the Pandemic Could Affect ESG Investing (and ETFs)

The coronavirus pandemic throws up ESG in a new light. Far from spelling doom for ESG investing, the pandemic may have given it fresh, positive potential. An article by Marlene…

https://dailyalts.com/wp-content/uploads/2020/04/startup-4027674_640-SOS-Uk.jpg
Venture Capital: Call for UK Government to Support Startups During the Coronavirus Crisis
April 6, 2020     News, Venture Capital

The Save Our Startups (SOS) campaign launched in the UK on Sunday. It aims to mobilize financial support for the 30,000 startups and high-growth businesses in the country, many of…

Scroll to Top