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...