Soros to close Quantum fund to outsiders

[Geee]

Financial Times:

George Soros, the billionaire hedge fund manager, is closing his Quantum fund to outside investors and returning their money.
The fund, which will continue to manage about $24.5bn of Mr Soros’ own money, blamed the decision on new financial regulations requiring it to register with the Securities and Exchange Commission.
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“An unfortunate consequence of these new circumstances is that we will no longer be able to manage assets for anyone other than a family client as defined under the regulations”, Jonathan and Robert Soros, George’s sons and co-deputy chairmen of the fund, wrote in a letter to investors on Tuesday.

The fund is returning about $750m of capital to outside investors, according to a person familiar with the situation. Keith Anderson, chief investment officer since 2008, is also leaving the fund.

The move brings an end Mr Soros’ four-decade career as a hedge fund manager. A Hungarian emigré, he made more than $1bn in 1992 betting that the UK would be forced to devalue sterling and pull out of the European exchange rate mechanism.

[Geee]

I notice that these articles never include the fact that Soros was convicted in Europe of insider trading