$ 6 billion fund  is closing its doors by 2015.

Relational Investment, LLC is planning to shut down and liquidate its current funds after its co-founder, Ralph Whitworth, found out that his throat cancer has returned, according to a Wall Street Journal report.

Back in July, the firm announced that Whitworth was taking a leave of absence.

His co-founder David Batchelder was originally planning to step back from his responsibilities, but took control of the firm’s operations when Whitworth left.

The firm discussed future plans with investors, and ultimately decided that they will execute “an orderly liquidation and wind-down of operations” given the circumstances.

But this may not be the end of the firm.

“The firm’s executives expect eventually to launch a new fund with the same name, though founders Mr. Whitworth and David Batchelder will cede day-to-day control,” according to the WSJ. 

Relational Investors is an activist investment firm, meaning that after it buys stakes in companies, it pushes them to change their financial or strategic operations in an effort to increase shareholder value.

Some of Relational’s more high-profile investments included Hewlett-Packard Co. and Home Depot.

Currently, the firm is managing around 20 investments, including steelmaker Timken and Oreo maker Mondelez International Inc., according to the WSJ report.

Business Insider » Finance

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