JLF to close to investment at $800 million

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JLF Asset Management, Jeff Feinberg’s Delmar, Calif., long/short equity shop, has reached $740 million and plans to close to new investments at $800 million.

JLF Offshore fund produced a net return of 14.34% through May and was up approximately 16% through mid June. Since the fund’s inception nine years ago, it has produced a net annualized return of about 22%.

JLF is a proponent of GARP, or growth at a reasonable price, and employs an intensive research process involving frequent contact with company management teams, industry experts and competitors.

The firm’s long portfolio consists of positions in companies that