Why Hedge Funds Are Folding
Liquidations are on pace to exceed last year’s total.
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.