Balyasny Asset Management is planning to soft-close its high-flying flagship fund, Atlas Global Investments, once it reaches $750 million in assets. At that point, which could come as early as this year, the long/short equity portfolio will take in capital mostly from existing investors. The Chicago-based firm plans to close the fund once it reaches the $1 billion mark and then assess when it might reopen again. Atlas currently runs about $700 million.
In a year when hedge fund returns have been middling at best, Atlas has turned in stellar performance. Through August, the fund had netted about 17.5%.