Ricky Sandler’s Eminence Capital to Shut Down After 27 Years, Return Most Investor Cash by June
Eminence Capital will close and return $5.9 billion to investors after 27 years, founder Ricky Sandler told clients. The New York hedge fund suspended redemptions to manage the wind-down, citing disappointing returns, rising costs, and tougher competition. Sandler expects at least 75% of assets to be distributed by late June.