Hedge fund manager
“The appropriate next step is to wind down the Funds by fully liquidating the Funds’ assets and accounts and returning cash to all investors,” Plotkin wrote in a letter reviewed by Reuters on Wednesday.
This year’s losses come on the heels of steep losses in 2021 when
The firm had
In the letter Plotkin said he had already raised a substantial amount of cash and cut the funds’ exposure.
A spokesman for Plotkin declined to comment.
At the end of the first quarter Melvin’s biggest investments included bets on
Plotkin was a star investor at
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