London Hedge Funds Targeted By Anti-G8 Protesters

May 23 2013 | 11:10am ET

In an echo of 2011's Occupy Wall Street protests, anti-G8 activists are targeting the London offices of 17 hedge funds.

Stop G8 is circulating an "action map" of the "hiding places of power in the West End" of Britain's capital for a June 11 protest, one week before the G8 summit in Northern Ireland. Among the firms on the map are BlueBay Asset Management, Brevan Howard Asset Management, Horseman Capital, Lansdowne Partners, Man Group, Millennium Global Management, Odey Asset Management and Paulson & Co. The map also features banks and private equity firms, as well as companies involved in arms, energy, mining, media and security. Also identified are several "dens of the rich," including nightclubs, shops and restaurants.

But the hedge funds appear to be the primary target, with Stop G8 calling out what it sees as the industry's "blood money" profits on war, food and debt speculation, as well as the industry's political sway, with donations which allow "them to fend off regulation and investigation despite their unsavory reputations."

The hedge funds targeted—as well as other hedge funds that did not make the map—have been in touch with the Metropolitan Police. The chief operating officer of one e-mailed a group of London financiers to assure them that the threat "is being taken seriously and my understanding is that all police leave has been cancelled in anticipation of trouble," the Financial Times reports. "Some units who were due to police Northern Ireland have now been instructed to remain in London."

The police told the FT only that the were "in dialogue" with Stop G8. Occupy London is also set to take part.

Some of the hedge funds aren't counting merely on police protection, and are considering having staff work at satellite offices on the day of the protests, or "not to dress like a hedge fund manager," the FT reports.

"People will take this very seriously," a senior employee at one of the hedge funds said.

The 2011 New York protest, and subsequent protests by the Occupy movement that have targeted hedge funds, did not turn violent. But some anti-G8 and anti-globalization protests have, notably in Seattle in 1999 and Genoa, Italy, in 2001.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of