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Hedge Fund Astellon Returning Capital to Turn Family Office

(Bloomberg) Hedge fund Astellon Capital Partners will return investors’ money and turn into a family office by the beginning of next year, the latest to succumb to an increasingly hostile market for money managers. “The market environment for fundamental and value driven investing has become increasingly difficult over the past few years,” the London-based firm wrote in a letter to investors, a copy of which was seen by Bloomberg. A spokesman for the firm confirmed the decision, while declining to comment further.

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