T2 Partners is just a couple of Ts after its leaders announced plans to go their separate ways.

Whitney Tilson, who founded the firm 13 years ago, and Glenn Tongue told investors last month that they would end their eight-year partnership. Tilson will continue to manage T2’s three hedge funds, while Tongue will take its SPAC fund to his new firm, Deerhaven Capital Management.

In the June 22 letter, Tilson gave investors five days to redeem their investments. He said he had sold off most of the funds’ positions, both to facilitate investors’ exits and to make the funds his own.

.

Read More: FINalternatives