Highfields is Latest High-Profile Hedge Fund to Shut Down

D

dealmaker

The $12 billion firm founded by Harvard Management alum Jonathon Jacobson is returning investor capital and converting to a family office after a years-long spell of underperformance.

  • Stephen Taub
October 04, 2018

middling performanceover the past four years. Highfields posted low- to mid-single-digit gains each year from 2014 through 2017. It was down a little more than 1 percent in September and slightly more than that so far in 2018.

“No one feels worse about our lagging performance than I do,” Jacobson stated in the letter.

https://www.institutionalinvestor.c...s Latest High-Profile Hedge Fund to Shut Down
 
Seems like almost all of the GS alumni and a majority of Ivy League pedigreed managers who opened up hedge funds have bitten the dust...
 
ajacobson said:
Or they have grown so wealthy they have the choice to walk away
More...

Actually that's notwithstanding the fact that many of them lost their investors' money, not to mention those who walked away without honor, having taken 2 and 20 for market-like returns in most cases… and sub-market returns in others... (Mindich, Burbank, Tilson, Perry, Chriss, Novogratz, Lampert etc)
 
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Maverick1 said:
Actually that's notwithstanding the fact that many of them lost their investors' money, not to mention those who walked away without honor, having taken 2 and 20 for market-like returns in most cases… and sub-market returns in others... (Mindich, Burbank, Tilson, Perry, Chriss, Novogratz, Lampert etc)
More...

In this industry the only alpha that actually matters is “personal alpha”
 
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