Friday, 27 November 2015
Last updated 1 day ago
Feb 24 2014 | 11:41am ET
Activist hedge fund Blue Harbour Group has a "friendly" request for its fellow hedge funds that control the Tribune Co.: Sell off its real-estate holdings and share of the electromagnetic spectrum, please.
Blue Harbour founder Clifton Robbins announced a 2.5% stake at the annual meeting of fund of hedge funds EnTrust Capital earlier this month, The Wall Street Journal reports. And he said he has urged the company's leadership, including chairman Bruce Karsh, head of Oaktree Capital Management, to consider selling off additional assets to boost shareholder value.
Tribune is already moving towards a spin-off of its newspaper business, including the Chicago Tribune and Los Angeles Times. The company emerged from bankruptcy in 2012, leaving it in the hands of a group of creditors led by Oaktree, Angelo Gordon & Co. and JPMorgan Chase.
But Robbins does not plan a rough-and-tumble fight with Oaktree and Angelo Gordon. He pronounced his interest an amicable one and lavished praise on both Karsh and Tribune CEO Peter Liguori, and said Tribune was his best investment idea of the year.
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…