Sunday, 19 April 2015
Last updated 12 hours ago
Apr 6 2011 | 3:45am ET
The California State Teachers’ Retirement System has added a noted activist hedge fund to its stable of managers.
The $130 billion public pension fund has awarded a $300 million mandate to Trian Fund Management, Pensions & Investments reports. New York-based Trian is headed by Nelson Peltz, who has battled such luminaries at H.J. Heinz Co. and Kraft Foods.
Peltz this week threw his support behind a provision of the Dodd-Frank financial regulation reform law granting investors the right to nominate dissident board candidates using corporate proxy cards, rather than their own. The shareholder access rule is on hold, with the Securities and Exchange Commission awaiting the outcome of a lawsuit against it, filed by the U.S. Chamber of Commerce, before proceeding with its own rulemaking.
“Because of the way the rules work, Heinz shareholders could not mix-and-match our gold proxy card with management’s white card,” Peltz told MarketWatch. “Even in this day and age couldn’t mix proxy cards. They had to go to Pittsburgh and vote there.”
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…