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"[People] don’t expect retirement to begin with social security and sit on the back deck in a lounge chair for the rest of their lives. This group really wants to remain active."

Jeff Cimini, head of personal retirement at Merrill Lynch

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John Dyson’s New York-based Millbrook Capital is closing MMI Investments, an activist hedge fund which produced solid returns over 15 years, allowing Dyson to focus on his personal investments, according to Hedge Fund Alert. 

It is understood that MMI is “on track” to return outside capital by 30 June, at which point Millbrook will operate as a family office for Dyson. Clay Lifflander, a portfolio manager of MMI, “apparently plans to move on,” the publication said. 

General counsel and chief financial officer Alan Rivera and analyst John Powers plan to stay on at the firm, among others. Craig Rosenblum, vice president of research, and assistant portfolio manager Jerome Lande have left already.

Rosenblum and Lande plan to team up to launch an activist fund operation called Coppersmith Capital.

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