Atticus Capital Management founder Timothy Barakett informed investors of plans to shutter the firms two main event-driven funds and return about $3 billion in assets.
I intend to spend more time with my family, pursue my philanthropic interests and establish a family office to manage my own capital and charitable foundation, Barakett wrote to investors in a letter sent Tuesday.
Atticus will continue operations, with partner David Slager running the $1.2 billion Atticus European fund. Barakett will keep his role on the firms board and management committees.
Since the Atticus Global strategy was started in 1996, it has generated