Egerton Closes To New Money

Oct 17 2013 | 2:51pm ET

Egerton Capital has become the latest hedge fund to start turning away investors.

The London-based firm shut its long/short fund to new money late last year, and has now done the same for its long-only fund, Reuters reports. Egerton's assets have soared 80% over the past year as investors flocked to the high-performing strategies. The firm now manages US$11.4 billion, roughly equally split between its funds.

A year ago, Egerton had just US$6.3 billion in assets.

Egerton's hedge fund is up 19% this year and its long-only fund is up 25%.

Egerton, founded in 1994 by John Armitage and William Bollinger, reopened in 2008 after suffering losses in the financial crisis that cut its assets in half, to just US$4 billion. It joins a number of prominent managers, including D.E. Shaw Group, in closing to new investors recently.

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