Sunday, 29 November 2015
Last updated 1 day ago
Jan 30 2013 | 1:17pm ET
Activist hedge fund Trian Fund Management has cut its stake in State Street Corp., just over a year after it attacked the bank's management.
The hedge fund, headed by Nelson Peltz, sold down its State Street holdings late last year. It's unclear how much of the stake, once 3.3% of the bank, it sold, but it did so at a profit: Trian bought the shares in the $34 dollar range, and they now stand about $20 higher.
Much of that growth can be attributed to Peltz's "action plan," which called for job cuts, higher dividends and share buybacks.
It is unclear why Trian cashed out of part of all of its State Street investment. The bank's shares are still far below the $99 the hedge fund predicted they could reach if its plans were implemented.
Oct 21 2015 | 10:41am ET
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…