Saturday, 18 April 2015
Last updated 20 hours ago
Jul 13 2010 | 1:35pm ET
Activist hedge fund billionaire Nelson Peltz is trying his hand at activist private equity fund management, raising more than $400 million for the new fund.
The new Trian Partners Strategic Investment Fund is structured as a p.e. vehicle because Peltz plans to lock up investor money for a significant period. That hasn’t frightened too many away, however, with the fund securing some $433 million in commitments, Bloomberg News reports.
Peltz hopes to raise $1.5 billion for the fund. It is currently marketing the vehicle, primarily to sovereign wealth funds, pension funds, family offices and funds of funds.
Trian Strategic will take minority stakes in publicly-listed companies. But as is its manager’s wont, the fund will seek spots on the boards of directors of the companies in which it invests.
Peltz’s New York-based Trian Fund Management is perhaps best-known as the biggest investor in the Wendy’s/Arby’s Group fast-food chain. It recently won two seats on asset management giant Legg Mason’s board of directors, including one for Peltz.
Trian Strategic and its general partnership were incorporated in Delaware in January. It has yet to file a private-placement note with the Securities and Exchange Commission.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…