Breaking News-RTRS-CORRECTED-UPDATE 2-Atticus closing two hedge funds

NEW YORK, Aug 11 (Reuters) - Investor Timothy Barakett on Tuesday said Atticus Capital, which suffered some of the hedge fund industry's steepest losses last year, is closing two of its three funds and will return $3 billion to shareholders.
The Atticus founder and chief executive told investors in a letter that he is closing down his flagship fund, Atticus Global, and the $600 million Atticus Trading fund "solely" for personal reasons.
Atticus, the management company, will remain open. Barakett said partner David Slager intends to continue to manage the $1.2 billion Atticus European Fund.