{"id":8509,"date":"2008-09-01T00:00:00","date_gmt":"2008-09-01T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-fund-atticus-loses-more-than-5-bln-source","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2008\/hedge-fund-atticus-loses-more-than-5-bln-source.html","title":{"rendered":"Hedge fund Atticus loses more than $5 bln -source"},"content":{"rendered":"<p>Forbes &#8211;&nbsp;U.S. activist hedge fund Atticus Capital has lost more than $5 billion this year, a source familiar with the matter told Reuters, after its funds were hit by heavy falls in financial stocks. Atticus, a high-profile player in deals such as <strong>Barclays<\/strong>&#8216; unsuccessful bid for <strong>ABN Amro<\/strong> last year, saw total assets under management fall to around $14 billion at end-July from more than $20 billion last year, the source said. <\/p>\n<p>The losses were mainly due to a 32.9 percent loss in the $7 billion Atticus European fund from the start of the year to the end of August and a 25 percent fall in the Atticus Global fund.<\/p>\n<p>The firm, which employs a variety of investor lock-ups, saw few investor redemptions. Atticus declined to comment. The firm, which views itself as a long-term investor, has nevertheless delivered strong performance in recent years.<\/p>\n<p>In 2006 founder Tim Barakett earned $675 million, according to hedge fund industry publication Alpha Magazine. <\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.forbes.com\/reuters\/feeds\/reuters\/2008\/09\/01\/2008-09-01T101640Z_01_L1364027_RTRIDST_0_ATTICUS-LOSSES.html\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Forbes &#8211;&nbsp;U.S. activist hedge fund Atticus Capital has lost more than $5 billion this year, a source familiar with the matter told Reuters, after its funds were hit by heavy falls in financial stocks. Atticus, a high-profile player in deals [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1755,526,1363,803,117,65,452,754,2442,236,913,616],"class_list":["post-8509","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-ameriprise","tag-contention","tag-court-hearing","tag-external-managers","tag-investment-arm","tag-june-14","tag-market-share","tag-personal-reasons","tag-sheer-weight","tag-trillion","tag-value-performance","tag-vendor-services"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8509"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8509\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}