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Pallotta to shut down Raptor fund, reopen it later

Reuters – Hedge fund manager James Pallotta, who long delivered some of the industry’s best returns, told clients on Tuesday that he will shut down his $800 million Raptor Global fund in July.

Pallotta, 51, told investors that he had grown concerned about the $1.3 trillion hedge fund industry’s short-term focus and that he plans to restart his fund after taking a few months off to create a new strategy.

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