Blue Ridge Capital To Close And Lay Off 55 Employees

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A Workers Adjustment and Retraining Notification filed with the New York State Department of Labor indicates the Blue Ridge Capital, LLC will close on March 31, 2018. Fifty-five employees at the Tarrytown and Madison Avenue sites will be affected by the closure.

John Griffin established the New York-based firm with $55 million in 1996. The firm posted 25 percent annualized returns for the first 13 years. Bloomberg reports the firm’s assets peaked at $9 billion at the end of 2013, but fell 9 percent the following year.

Employee separations will take place on March 31, 2018. The employees have no bumping rights, according to the filing.

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