Trian Wins $300 Million CalSTRS Mandate

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.”


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

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.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.