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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”.
  • The $12B fund is not the only ones in the firing line

CNBC with this from earlier:

  • 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.

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