Cantillon Said to Exit Hedge Funds, Expand Long-Only Business

Cantillon Capital Management LLC, the $4.5 billion asset-management firm run by William von Mueffling, is closing its two hedge funds to focus on long-only investing, according to people familiar with the matter.

Cantillon plans to return money to clients of its $2.7 billion Cantillon World fund and $800 million Cantillon European fund by the end of September, said the people, who asked not to be identified because the information is private. Rupert Tyer, a spokesman for the New York-based firm, declined to comment.

The firm is offering clients the option of moving into its long-only strategies, which buy securities on the expectation they will rise in value. Von Mueffling, who started the firm in 2003, oversees more than $1 billion in long-only assets, said the people.