Launches & Closures Hedge Funds Performance

Up nearly 15%, Mick McGuire’s Marcato closes to outside capital

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The former Pershing Square partner’s top stock picks have driven his Q1 outperformance.

 
  Mick McGuire

Having earned 14.5% during the first quarter, former Pershing Square Capital Management partner Mick McGuire plans to soft close his long/short equity firm Marcato Capital Management on July 1, according to a recent investor letter. The activist firm manages nearly $500 million and only existing investors will be allowed to increase their allocations following the cutoff.

“We want to ensure that we are reserving capacity for you to grow with us over time,” the firm said in the letter dated April 11. A spokesman for Marcato declined to comment.

McGuire formally launched the San