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Aging hedge funds grapple with succession planning

Many of today’s top firms are tightly controlled by founders, making succession a top concern of investors.

By Irwin Speizer Stanley Druckenmiller took the investment world by surprise in August when he announced he was shutting his New York–based Duquesne Capital Management and returning money to investors. Sure, he was having an off year, reportedly down about 5% at the time. But with $12 billion in assets

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