Why Hedge Funds Are Folding

Liquidations are on pace to exceed last year’s total.

John Taggart/Bloomberg

John Taggart/Bloomberg

Another week, another hedge fund is closing down.

This time it is Mick McGuire’s Marcato Capital Management, which in recent years has suffered from lousy performance and a sharp decline in assets, according to a report from Reuters. The firm — headed by the one-time protégé of Pershing Square Capital Management’s Bill Ackman — is only managing several hundred million dollars these days, according to the report.


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