Cantillon Capital Management told clients this week that it will close down its $3.5 billion hedge fund operation to focus on its $1 billion long-only business.
The firm, founded by William von Mueffling, plans to return money to investors in its two long/short equity vehicles – Cantillon World Fund and Cantillon Europe Fund – by the end of September. Investors will have the option of moving their assets into long-only strategies.
A spokesman for Cantillon declined to comment.
Both funds lost money last year but outperformed other long/short equity vehicles and the broader stock market. In 2008, Cantillon World lost 9.14%,