Atticus closes key funds
THE activist hedge fund group co-chaired by Nathaniel Rothschild, Atticus Capital, is handing $4bn (£2.42bn) back to its investors and closing down a flagship fund, along with a smaller vehicle.
Rothschild, a scion of the famous banking family, was brought into the business as co-chair by founder Timothy Barakett in 1996.
Yesterday Barakett wrote to investors to alert them of the closure of Atticus Global, worth $3.4bn, and Atticus Trading, worth $600m.
The move leaves Atticus with a solitary fund worth $1.1bn and comes as Barakett announced he will be stepping down.
At its peak in 2007, Atticus – named after a character in ‘To Kill a Mockingbird – had almost $20bn under management.
For the year to 31 July the flagship Atticus Global Fund was down 13.3 per cent.