When Dan Loeb announced his largest ever stake in Switzerland-based Nestlé this summer, writes Lindsay Fortado, the move was the latest sign of the interest taken in Europe by activist shareholders from the US. Mr Loeb has been busy this year having also acquired stakes in UniCredit, the Italian lender, and German utility Eon. He was not alone. Elsewhere, Keith Meister’s Corvex Management joined with 40 North to take a 7.2 per cent stake in Clariant, the Swiss chemicals group, in the hope of scuppering its $20bn merger with US rival Huntsman.
They follow San Francisco-based ValueAct, which built a 10.8 per cent stake in Rolls-Royce beginning in 2015, and Elliott, Paul Singer’s hedge fund, which has been active in Europe for decades but has been ramping up activity. “As markets rise, people are starting to look for opportunities,” said Reade Griffith, the London-based chief investment officer of hedge fund Polygon’s European event-driven strategy, which sometimes takes a behind-the-scenes activist approach.Read more
LAS VEGAS (Reuters) – Hedge fund managers said they are looking beyond the United States for investment ideas as the so-called Trump bump stock market rally shows signs it may be fizzling.Read more
High profile hedge fund investor Reade Griffith has upped his stake in Ashcourt Rowan to a little over 29%.
This is close to the maximum Griffith, who has gained the exposure through his Polygon Global Partners vehicle, can hold without making a formal takeover.Read more
Hedge fund manager Reade Griffith has once again upped his exposure to WH Ireland as its shares have continued their recent slide.Read more
Chief Investment Officer, Polygon’s European Event-Driven Fund & Co-Founder and Head of Investment Committee, Tetragon.
Reade Griffith is the CIO of Polygon’s European Event-Driven Fund and a co-founder of Tetragon and Head of its Investment Committee.Read more
The Traphagen Distinguished Alumni Speakers Series invites noted Law School alumni back to campus to speak informally about their careers with students in small settings, usually over lunch.
All events are free of charge, open to Law School students and generally run an hour.Read more
Activist hedge fund Third Point LLC’s $3.5 billion stake in Nestlé threatens to make life awkward for the world’s largest packaged-food company. Several funds in Europe’s nascent market for shareholder activism are already creating a nuisance for the region’s companies for much less money.
A number of managers have recently made trades in which they’ve snapped-up shares in a European company controlled by a larger owner—often one trying to buy up the remaining shares of that company.Read more