Saturday, 27 December 2014
Last updated 3 days 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.”
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.