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Hedge fund Melvin Capital scraps plans to restart charging performance fees
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Gabe Plotkin scrapped a plan to start charging performance fees again at his beleaguered hedge fund, Melvin Capital Management, after encountering backlash from investors.
Plotkin on 21 April told clients he planned to shrink the size of Melvin’s hedge fund by several billion, to $5bn, and resume charging performance fees even though his investors are still sitting on steep losses. Those who had been invested at the start of 2021 have lost 51.8% through March, after a big hit Melvin suffered in January of last year due to...
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