Heebner to Shutter Capital Growth Management After Three Decades

Ken Heebner is shutting down the money manager he co-founded three decades ago, marking the end of a once high-flying investment firm characterized by dramatic gains and losses at its flagship mutual fund.

Boston-based Capital Growth Management LP has “determined to cease operations” and sell off the holdings in its mutual funds by the end of November, according to a regulatory filing. Its three mutual funds -- the CGM Focus Fund, Mutual Fund and Realty Fund -- had net assets totaling about $908 million at the end of September, according to data compiled by Bloomberg.

The firm declined to ...