A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo·Alt-Finance·May 12, 2015·1 min read·18 viewsHedge fund JAT Capital returning money to outside investors ShareTweetShareSubmit BOSTON (Reuters) – Hedge fund JAT Capital Management is returning money to outside investors to restructure itself as a family office, a person familiar with the $1.7 billion firm said on Tuesday. JAT, founded in 2007 by John Thaler, had become an industry darling after posting a 20 percent gain in 2009. But it faced tougher times more recently, posting double-digit losses in 2012 and 2014. Thaler, who focused on telecommunications, media and technology stocks, told investors this was the “right moment to take a break.” Family offices tend to manage money only for an individual or a family. Thaler’s firm joins a growing number of hedge funds that are closing their doors to outsiders as picking stocks becomes more difficult. At the end of the first quarter, JAT’s biggest position was Time Warner Cable Inc, followed by Twitter Inc and Yahoo Inc.See alsoMay 29, 2015China stock funds attract most cash since April 2008 in latest week: BofA The news was first reported by the Wall Street Journal. A spokeswoman for the firm declined to comment. (Reporting by Svea Herbst-Bayliss) Like this article? Take a second to support us on Patreon!