Relational Investors will wind down its $6 billion fund, likely due to the ill health of co-founder Ralph Whitworth who was diagnosed with throat cancer.
The Wall Street Journal reports:
One internal memo at a public pension fund said Relational executives said they are focused on “executing an orderly liquidation and wind-down of operations” by the end of 2015.
The fund’s largest positions were in Hewlett-Packard and SPX Corp.
