In a letter sent to investors on Thursday, founder Eric Mindich wrote: “A combination of industry headwinds, a difficult market environment and, importantly, our own disappointing 2016 results have challenged our ability to continue to maintain the scale and scope we believe necessary to pursue our investment program consistent with our founding principles. … We have made the very difficult decision to return your capital, from a position of relative strength.” A copy of the letter was reviewed by Business Insider. Mindich, 49, said he plans to return 40% of all investors’ capital by the end of April and that the fund’s other investments would take longer to unwind over… Read More
Continue Reading