Whitney Tilson to Shut Hedge Fund After ‘Sustained’ Poor Returns
- Clients told reporting losses ‘to you was making me miserable’
- Shutting down ‘was a hard decision, but the right one’
Whitney Tilson
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Whitney Tilson is closing his hedge fund, Kase Capital Management, and returning money to investors after struggling with losses.
“Reporting sustained underperformance to you was making me miserable,” Tilson said an email Thursday, citing excerpts from a recent letter to investors. "I couldn’t in good conscience continue to manage your money unless I had a high degree of confidence that I could turn things around within a reasonable time frame."