Reuters – Seth Klarman’s $28 billion Baupost Group, one of the world’s biggest hedge funds, plans to return some money to clients at year’s end, two people familiar with the Boston-based firm’s plans said.
It would be only the second time in Klarman’s 31 years of running Baupost that he is giving money back, and the reason is that it is getting tougher to put all of the cash to work, the sources, who asked not to be named, said.
