Soros to End Hedge-Fund Career, Return Money to Investors

[bijou]

George Soros, the billionaire best known for breaking the Bank of England, is returning money to outside investors in his $25.5 billion firm, ending a career as hedge-fund manager that spanned more than four decades.

Soros, who turns 81 next month, will hand back the money, less than $1 billion, by the end of the year, according to two people briefed on the matter. His firm will focus on managing assets solely for Soros and his family, according to a letter to investors. Keith Anderson, 51, chief investment officer since February 2008, is leaving, said the letter, signed by Soros’s sons Jonathan and Robert, who are co-deputy chairmen. ...

http://www.bloomberg.com/news/2011-07-26/soros-to-end-four-decades-as-hedge-fund-leader-by-returning-investor-cash.html

[Starbuck]

....took the decision because new financial regulations would have made it necessary for the firm to register with the Securities and Exchange Commission by March 2012 if it continued to manage money for outsiders.
And of course that is the heart of the matter.
In the past hedge funds have hardly been regulated at all. Although some have been very successful, most have not and their failure rate exceeds the more regulated mutual funds by a wide margin.

Doesn't make much difference. Soros controls 25 Billion of his own money and 1 Billion of everyone else's. And he can still do whatever he wants with his own money.

[Apocalypse]

Some thing seems off there.

$25.5 billion firm, hand back, less than $1 billion... what about the other $24 billion?

[bijou]

Some thing seems off there.

$25.5 billion firm, hand back, less than $1 billion... what about the other $24 billion?

That's his and his family's money. He just can't have outside investors without disclosure.