Billionaire Louis Bacon’s Moore Capital is closing its doors to new clients, returning money to its existing clients, and consolidating its three funds into a single fund. Bacon is also stepping away from managing day-to-day operations. Below you can see a copy of the letter (hat tip: Zerohedge):
Dear Investor,
As Moore Capital Management (MCM) approaches its 30th year at the end of this decade, the time is propitious to take a step I have eyed for some time and “privatize” our three...
