Monday, 3 August 2015
Last updated 9 min ago
May 8 2012 | 10:53am ET
Edward Lampert isn't waiting to try to head off a slew of redemptions from the hedge fund that holds his majority stake in Sears Roebuck & Co.
The ESL Investments fund's five-year lockup will expire this summer. But over the last several weeks, Lampert has begun to reach out to clients, urging them to stay in the fund, the New York Post reports.
Certainly, the fund's performance this year is a powerful incentive for sticking with Lampert: He bought out the Ziff family's stake in the fund in January for $130 million. Since then, he's nearly doubled his money.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…