Top hedge fund to close after 30 years

John Griffin told investors he’s closing his $6 billion Blue Ridge Capital, ending a three-decade career in hedge funds as the eight-year bull market weighs on his industry.

“This can be a humbling business, and many times we were tested, especially on the short side, but we have remained committed to the long-short portfolio strategy that has been our founding philosophy since we launched over 21 years ago,” Griffin wrote in a Dec. 15 letter announcing the shutdown.

Bloomberg News reports that Griffin, 54, was one of the hedge fund industry’s original “Tiger cubs.” He worked at famed investor Julian Robertson’s Tiger Management for nine years and served as president before striking out on his own in 1996. He started Blue Ridge with $55 million, and over the next 13 years rose to prominence as one of the best-performing stock managers, posting 25 percent annualized returns, according to an investor.

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John Griffin to Shut Blue Ridge Capital Hedge Fund After 21 Years

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