Scout Capital Management is shutting down after launching more than 15 years ago.
A letter to investors that was obtained by the Wall Street Journal explained that the New York-based hedge fund is closing because its co-founders Adam Weiss and James Crichton have conflicting views on management style.
Scout Capital plans to return 95% of clients’ money around April 1.
Weiss plans to start a family office and write a book on investing after the firm’s closure, while Crichton will likely launch a firm managing money for Scout’s current investors.
Scout Capital managed approximately $6.7 billion in assets as of December 31.