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
in the 90's Jon was in the top 5 option customers(sellers)in the world while at Harvard Asset. Great guy
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...
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)
Yeah, I think investors are figuring that one out big time... https://www.bloomberg.com/graphics/2018-shrinking-hedge-fund/