Saturday, 25 April 2015
Last updated 22 hours ago
Apr 26 2007 | 9:43am ET
Attention Bulldog Investors, Steel Partners and other activist shops looking for pension money! The New York City Employees’ Retirement System and the Teachers’ Retirement System for the City of New York are seeking exposure to activist investment products. The office of the comptroller is issuing a request for qualifications to identify qualified firms with experience and a successful track record in activist investing.
The RFQ defines activism as “investments in publicly-traded companies that are aimed at adding value or ‘alpha’ to a portfolio through proactive engagement of the management of each portfolio company. Goals of investing in activist funds include positive strategic, structural, operational, financial and/or governance improvements, which will be reflected positively over time in the company's share price.”
The RFQ is open to U.S., non-U.S. or global equity strategies and the benchmark will vary depending on the strategy of the individual products. Interested firms should have at least $50 million in institutional activist investments under management and a two-year return composite for the proposed product; firms with longer records must provide that record since inception.
The deadline for the RFQ, which is available at www.comptroller.nyc.gov, is May 30.
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…