European Activist Investor Bluebell Capital to Shut Hedge Fund

Bluebell Capital Partners, the European activist investment firm, is shutting down its hedge fund after targeting high-profile companies from pharmaceutical giant GSK Plc to luxury conglomerate Richemont.

London-based Bluebell is returning capital to external investors from its co-mingled fund and will restructure the firm, co-founder Giuseppe Bivona said in response to Bloomberg queries Monday. It will continue to pursue its activist strategy through co-investments and advisory mandates, Bivona said.

The size of Bluebell’s fund wasn’t large enough to justify its administrative costs, according to Bivona. It traditionally managed €100 million ($105 million) to €200 million of assets, people ...