Friday, 26 December 2014
Last updated 1 day ago
Oct 23 2013 | 1:13pm ET
Amidst widespread anger over the low float price of the U.K.'s Royal Mail comes word that one of the biggest beneficiaries of the privatization is The Children's Investment Fund.
The activist hedge fund is now the postal service's largest shareholder with a 5.8% stake. TCI participated in the Royal Mail's initial public offering earlier this month, which priced the company at £3.30 per share. Royal Mail shares surged on that day and last week crested the £5, leading to questions about why the float price was so low.
Hedge funds were allocated 10% of the IPO, and TCI participated. But the hedge fund bought less than 1% of Royal Mail's shares that day; it has been aggressively buying up additional shares since.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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