Relational Investors will be winding down its operations and dissolving its $6 billion portfolio of funds by the end of the year, according to a report.
The firm, headed by Ralph Whitworth, is expected to launch a new fund at some point with the same name but under different stewardship, the Wall Street Journal reported. Whitworth had been on a leave and will cede day-to-day control, along with David Batchelder.
The activist investment firm had held its largest positions in Hewlett-Packard, SPX and Mondelez, according to its more recent regulator filings. It also had considerable positions in Ingersoll-Rand and the Timken Company.
Though it is an activist firm, Whitworth eschewed the public battles with CEOs favored by some of its higher-profile peers, instead seeking to cooperate with management to make reforms.
Relational had managed about $1.35 billion for the California Public Employees' Retirement System, or Calpers, which recently said it would divest itself of its hedge fund holdings. That decision, however, did not include Relational.
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