Now that they’ve reached the trillion-dollar tipping point, hedge funds are taking a more active role with management.
Last summer, UK hedge fund Laxey Partners succeeded in ousting three board members of Private Equity Investor, a publicly listed investment company. The fund installed its director and fund manager, Colin Kingsnorth, and two more of its own nominees, culminating in a public battle over stewardship of the company. Laxey Partners’ corporate coup d’état is just one more example of a trend that is gaining visibility and momentum: increased activism among hedge funds. Helping perpetuate
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