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- Weiss Multi-Strategy Advisers plans to close its doors after managing money since its start in 1978, Bloomberg News reported Sunday, citing a letter to clients and partners.
- “Every journey has twists and turns, and after careful consideration of various factors and circumstances, I have arrived at the difficult decision to conclude this journey,” George Weiss, founder and chief executive, said in the letter.
- The firm managed $3.1 billion as of the middle of last year, according to With Intelligence data cited by Bloomberg News. With Intelligence was first to report on Weiss’s closure plans.
- The fund’s return last year was 6%, contrasting with a 0.6% loss in 2022. The average multi-strategy, multi-manager fund in 2023 rose 8%, With Intelligence said.