Thursday, 24 July 2014
Last updated 7 min ago
Jun 30 2008 | 2:32pm ET
After its unprecedented victory in a battle with a Japanese wig maker, U.S. activist hedge fund Steel Partners finally has a seat at the table.
The boardroom table, that is. Aderans Holdings named Joshua Schechter, a managing partner at New York-based Steel, to its board of directors, just over a month after Steel succeeded in ousting the company’s president and most of its board. Steel is Aderans’ largest shareholder, with a 26.7% stake.
Steel’s success stands in stark contrast to the failure of most activist hedge funds in Japan. Just last week, The Children’s Investment Fund suffered a devastating defeat in its battle with the country’s largest electric utility. Last year, Steel itself was condemned as an abusive acquirer in its battle with condiment maker Bull-Dog Sauce Co.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…