The N.Y.Post reports that it’s splitsville in hedge-fund land. Whitney Tilson and his
longtime partner at T2 Partners Management, Glenn Tongue, are parting ways
after the second-worst monthly performance ever for the firm.
Tilson — an outspoken hedge-fund manager and regular TV
talking head — said he will spend more time running money and less time talking
about it. Tilson will continue to run
the firm and its three primary hedge funds, while Tongue will start a new
investment firm, Deerhaven Capital Management.
T2 Partners fell 13.6 percent in May but was still up 8.5
percent for the year at that time, according to Value Walk. As of March 30, T2
ran only $333.4 million, according to a regulatory filing.
Read more: http://www.nypost.com/p/news/business/tea_for_one_at_fund_ODxj5X1BDbPLg47OvhcLlL
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