Turn it off and on again – Melvin Capital looks to shut fund, open a new one
Melvin got buried back during the GME moonshot days:
- CNBC’s David Faber earlier today wrote that Melvin Capital “is in trouble” after suffering “massive losses” and the infusion from Citadel and Point72 “is probably gone”.
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The $12B fund is not the only ones in the firing line
- Melvin Capital, the embattled hedge fund run by its once high-flying founder Gabe Plotkin, has been discussing a novel plan with its investors under which the firm would return their capital, while giving them the right to reinvest that capital in what would essentially be a new fund run by Plotkin.
