Whitney Tilson to Close Kase Capital Hedge Fund
Tilson’s firm had managed $180 million at its peak in 2010
Whitney Tilson is closing his hedge fund, the latest high-profile investor to close shop amid an extended period of disappointing returns for the industry.
Mr. Tilson, 50 years old, shared his decision with clients on Sunday, according to people close to the matter. His firm, Kase Capital Management LLC, has lost about 8% so far this year, compared with a gain of 13.7% for the S&P 500, including dividends. Mr. Tilson manages about $50 million, down from a peak of $180 million in 2010.
While he ran a relatively small fund, Mr. Tilson was a well-known hedge-fund manager thanks to television and conference appearances, as well as books and regular writing about investing and other topics. Late last year, Mr. Tilson was the subject of strident criticism from Sen. Elizabeth Warren. Mr. Tilson had expressed public support of some of President Donald Trump’s cabinet and other appointments from the banking world, even though Mr. Tilson is a lifelong Democrat who voted for Hillary Clinton.