London-based hedge fund firm Egerton Capital has been closed to new money in an effort to keep its assets under control.
Reuters reported that Egerton’s assets swelled by 80% to $11.4 billion this year due to inflows and performance gains. The article added that the firm stopped accepting new money to its long-only fund in September and closed its long/short fund toward the end of 2012.
Egerton managed just $6.3 billion about a year ago.
Egerton is among a slew of hedge funds to stop accepting new capital recently to keep its AuM under control. New York-based DE Shaw closed three of its funds earlier this year, while GLG Partners is preparing to close its market-neutral offering when it reaches $1 billion.
Founded in 1994 by John Armitage and William Bollinger, Egerton is one of Europe’s oldest hedge fund firms.