Atlantic slams door on investors

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After seeing assets hit $1.3 billion, New York-based Atlantic Investment Management firmly slammed the door shut on new money in August. New investors had been steered away from the 11-year-old, deep-value trading shop since May. But the shop, the home of Cambrian hedge funds and long-only portfolios, had been letting existing investors increase their allocations through August.

Among its largest investors is Soros Fund Management whose allocation, run in managed account form, represents about 20% of the Atlantic total. Atlantic's assets under management are up sharply, rising from $350 million in 2001 to just under $1 billion at