Tung To Close Avesta, Return To Moore

Jan 13 2012 | 1:12am ET

Avesta Capital Advisors founder William Tung is closing his firm's doors to return to the hedge fund he left almost a decade ago.

Tung told clients that he would liquidate Avesta and return their money by the end of next month. He plans to return to Moore Capital Management, where he spent six years before founding Avesta, which currently manages about $630 million.


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