July 26, 2011 2:54 pm

Soros to close Quantum fund to outsiders

By Dan McCrum in New York

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George Soros, the billionaire hedge fund manager, is closing his Quantum fund to outside investors and returning their money.

Quantum, which will continue to manage about $24.5bn of Soros family money, blamed the decision on new financial regulations requiring hedge funds to register with the Securities and Exchange Commission.

“An unfortunate consequence of these new circumstances is that we will no longer be able to manage assets for anyone other than a family client as defined under the regulationsâ€