Seeking Alpha

Klarman's Baupost to return $4B to investors

  • With the kind of investment opportunities it likes not materializing, Baupost Group plans to return about $4B at the end of the year, reports Institutional Investor. The distribution will leave the hedge fund still with more than $25B in AUM. It's only the 2nd time in Baupost's 31-year history it's returning money to investors (the other was 2010, and Klarman quickly changed course and raised money in 2011).
  • Baupost was ahead 13% through the end of Q3. Its average annualized return since inception is in the high teens - a feat made more remarkable by Klarman's penchant for having plenty of dry powder - cash holdings have averaged 33%.
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