Hedge fund Soroban is shutting its master fund and returning $4.1 billion in capital
May 7, 2018, 22:07 IST
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Soroban Capital is returning $4.1 billion from its master fund, according to a client letter seen by Business Insider.
Founder Eric Mandelblatt said in the letter Soroban is reorganizing to focus on its Soroban Opportunities Fund.
Earlier this year, Soroban returned $1.5 billion in assets to clients, the letter said.
"I now believe we should go further and close the Master Fund entirely," Mandelblatt wrote.
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Gaurav Kapadia, the firm's co-founder, is also leaving, the letter said.
The name "soroban" is an abacus developed in Japan.
More to come...