Thursday, 25 December 2014
Last updated 1 day ago
Dec 6 2007 | 7:22am ET
A London activist hedge fund has dropped demands that a private equity fund return a big chunk of change to shareholders and call a shareholder meeting to discuss selling its key investments.
PendVent, which is major shareholder in Australian private equity vehicle Babcock & Brown Capital, had demanded the return of A$425 million (US$370 million), as well as the sale of its majority stakes in Irish telecommunications company Eircom and Israel’s Golden Pages Group.
However, The Wall Street Journal reports that the hedge fund has dropped its demands, agreeing with Babcock that the two investments are “best realized over the medium term and not in the short term.”
The p.e. fund, which is managed by Babcock & Brown, also said that its A$445 million (US$387.4 million) in liquid assets have already been allocated to other investments.
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…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.