(Bloomberg) Hedge fund Emerging Sovereign Group is returning money to investors after almost two decades. Its founders plan to make bigger and riskier bets trading their own capital. ESG, which focused on emerging markets and was backed by billionaire Julian Robertson, will return $1.3 billion to clients, according to a letter viewed by Bloomberg. Investors will get their money back by the end of the month, a person with knowledge of the firm’s plans said. Most of the assets were from clients who had their money locked up for five years. Thomas Dwan, president of ESG, declined to comment.