Activist hedge fund MMI Investments LP, which had taken positions in several technology and defense companies and successfully pushed for deals in some cases, is winding down, people familiar with the matter said.

New York-based MMI, run by partners Clay Lifflander and Jerome Lande, has been liquidating its portfolio and has stepped away from all investments over the past several weeks, the sources said.

In 2010, MMI urged long-time takeover target Applied Signal Technology to solicit buyout offers, resulting in a $490 million sale to Raytheon Co . MMI was also behind the $506 million sale of satellite company EMS Technologies to Honeywell International Inc year.

It was not immediately clear why the fund is liquidating, but one of the sources said it was a personal decision among people in the partnership group and was an amicable breakup.

Representatives for the fund were not immediately available for comment.

(Reporting by Nadia Damouni and Soyoung Kim; Editing by Gary Hill)