Hedge fund Hoplite Capital is returning money to outside clients after a period ...
BOSTON - Hedge fund Hoplite Capital is returning money to outside clients after a period of sluggish returns, the firm’s founder, John Lykouretzos, told investors in a letter on Wednesday.
Hoplite has not “generated the returns necessary to maintain the capital duration required to successfully implement our stock picking strategy without distraction,” he added in the letter. Lykouretzos ranked among the industry’s brightest future stars when he left hedge fund Viking Global Investors to open his own business at the age of 29 in 2003.
However “the alpha we generated has been overshadowed by underperformance in other periods,” Lykouretzos said.
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