The Journalreports that William von Mueffling is set to inform Cantillion hedge fund investors today that it's been real. Moving forward CANtillon will be focusing its efforts on the long-only biz.
The plans mark the end of Cantillon funds now holding about $3.5 billion in assets, people familiar with the matter say.
The closures will leave Cantillon with about $1 billion primarily invested in stocks that the firm expects to rise in value, also known as long-only investments, the people said. The New York firm's closures will affect the majority of its business, its hedge funds, which bet on both rising and falling stocks. James O'Brien, the firm's chief operating officer, declined to comment.