Lampert Urges Investors To Stay After Lockup Ends

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.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…