Activist investor Clifton S Robbins is reportedly shutting his firm and converting to a family office. Performance in 2019 was strong, but the industry figure has decided he wants to move to other challenges.

Another hedge fund leader is transforming his business into a family office, part of a trend that has been playing out for the past decade.

The Wall Street Journal reported (February 28) that activist investor Clifton Robbins is closing his $2.0 billion Blue Harbour Group; the report said he was due to tell clients that he has decided to take this course today. 

Some hedge fund bosses such as George Soros have made the family office shift as a result of regulatory reasons. In this case, it appears that Robbins, who is 62, wanted to retire from the fray and focus on other matters. His firm can claim a robust performance: the WSJ said that Blue Harbour’s flagship fund has realized a 14.4 per cent annualized return after fees for the past decade. The firm is expected to return cash to investors during the second half of the year, the report said. Last year his flagship fund reportedly gained 33 per cent.

Here is a list of investment houses that have made the family office move.
 
There is also a parallel between the structures used by private equity and hedge fund firms and those used by family offices.