Glenview Capital Management will stop accepting new investor money in its main hedge funds by the end of 2015.
The $11.6 billion New York-based firm, run by Larry Robbins, will close its funds “for the forseeable future,” Bloomberg reports the manager wrote in an investor letter. “To the extent we see tactical opportunities develop in the marketplace, we may revisit these intentions,” Robbins wrote.
Glenview had already closed its $3.6 billion it’s pair of global opportunity funds to new money in 2014; one gained 6.9% in the first quarter, net of fees, while the capital opportunity fund gained 7.3%, handily beating the S&P 500.
Robbins has voiced his bullish attitude towards stocks. Glenview’s largest holding as of the end of March was in Monsanto Co., which was own 3.23% in the first quarter.
Photo: Brian Mills via Flickr.