Glenview To Close Main Hedge Funds to New Capital by Year-End

May 21 2015 | 1:10pm ET

Glenview Capital Management will stop accepting new investor capital into its main hedge funds at the end of the year. 

Run by Larry Robbins, the investment manager said the company’s Glenview funds will remain closed for the foreseeable future, according to an investor letter cited by Bloomberg. 

 “To the extent we see tactical opportunities develop in the marketplace, we may revisit these intentions,” the letter added. 

Glenview’s already closed its global opportunity funds, with approximately $3.6 billion in assets, to new money in early 2014. The main Glenview funds have assets of approximately $8 billion. 

In the letter, Robbins wrote that closing the funds to new capital would help the fund achieve more efficient entry and exit when trading individual positions.

The firm’s Glenview Offshore Opportunity Fund and Glenview Capital Opportunity Fund returned net 6.9% and net 7.3%, respectively, in the first quarter, according to Bloomberg. 

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