By Katrina Dean Allen
When William von Mueffling, the founder of
Cantillon Capital Management, announced in June he would shut
his hedge funds and convert into a long-only traditional money
management shop, the investment community was stunned.
Cantillon was the first of the über launches, coming out
of the gate in 2003 with what was then a stunning billion
Von Mueffling had been a star at Lazard, where he'd made his
bones shorting the tech bubble. But Von Mueffling had always
had a fundamental approach to stock picking and investors say
he liked to hold onto positions instead of trade-none of which
served him particularly well last year. In 2008, Cantillon
Europe, Cantillon World and Cantillon U.S. were down 10.72%,
9.25% and 16.27%, respectively.
Cantillon U.S. was liquidated at the end of 2008, while the
other two funds have been converted to cash and...