Ricky Sandler Shuttering Eminence Capital After 27-Year Run

Hedge fund veteran Ricky Sandler is shuttering Eminence Capital and returning investor cash after a 27-year run, telling clients it hasn’t performed well enough in recent years to keep operating.

In a letter to investors, Sandler said poor returns, the high cost of retaining talent and spending needed to build out necessary infrastructure made it untenable to continue on.