Klarman,Tepper Return Capital; Clients Redeem From Lampert

It has been a tough year for hedge funds, with all the closures, redemptions and underperforming returns. Despite of a bad year overall, some stars of the industry still managed to do exceptionally well. It appears Seth Klarman and David Tepper have too much money these days, so they are distributing it back to investors. The news of both hedge funds’ returning some capital to clients is however not a surprise, as it was expected in both cases. Klarman’s Baupost returns $4 billion II Alpha’s Stephen Taub confirms that Klarman’s Baupost Group will be returning $4 billion to its clients…