Paulson, Coleman
Paulson & Co.’s Advantage and Advantage Plus funds, which wager on companies going through corporate events including spinoffs and bankruptcies, tumbled 15 percent in the first quarter, according to a person familiar with the matter.
Halvorsen’s Viking Global lost 8.8 percent in the quarter, Coleman’s Tiger Global Management hedge fund lost about 22 percent, Dalio’s Pure Alpha fund tumbled 6.7 percent and Ackman’s activist hedge fund Pershing Square Capital Management lost 25.6 percent.
Managers deciding to return capital to investors were responsible for some of the drop, HFR President Ken Heinz said in a statement. Michael Platt’s BlueCrest Capital Management, once one of Europe’s largest hedge funds, said in December that it would return money to its clients.
Hedge-fund shutdowns outnumbered startups last year for the first time since 2009, HFR said last month. There were 979 fund closures and 968 startups.