(Bloomberg) Hedge fund manager Alan Fournier is returning client capital at his $1.5 billion Pennant Capital Management after almost two decades, citing poor returns. “While I take great pride in our long term returns, especially in light of our consistent low risk portfolio structure, our recent returns have been disappointing,” Fournier wrote Tuesday to investors. “I have been frustrated by our inability to match our historical results and deliver appropriate returns for our investors.”
Alan Fournier Shuts Hedge Fund Pennant Capital After 17 Years
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