Trian Backs Away From State Street

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.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR