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Alan Fournier's Pennant Slims Down Flagship Fund

The manager, like his former boss David Tepper of Appaloosa, is returning capital to investors to get his funds down to a more manageable size.

'Tis the season to give money back to investors. The latest example: Alan Fournier's Pennant Capital Management, which on December 1 returned to clients $325 million, most of it from its flagship Pennant Fund, according to founder Alan Fournier. Fournier says he is simply meeting his commitment since he started the

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