According to a client letter, Soroban Capital plans on returning $4.1 billion of capital from its master fund. Founder Eric Mandelblatt said in the letter Soroban is reorganizing to focus on its Soroban Opportunities Fund. Earlier this year, Soroban returned $1.5 billion in assets to clients. Mandelblatt also wrote, "I now believe we should go further and close the Master Fund entirely." Gaurav Kapadia, the firm's co-founder, is also leaving.