Atticus Ends Deutsche Börse Redemption Limits

Apr 23 2009 | 8:20am ET

Its activist battle with Deutsche Börse over, hedge fund Atticus Capital is ending its redemption restrictions on a side-pocket that held its investments in the German stock exchange operator.

The hedge fund instituted the limitations a year ago, during which time Deutsche Börse shares lost more than half their value. But with Atticus’ decision to end its alliance with fellow hedge fund The Children’s Investment Fund last month, the firm has given clients access to all of their capital once again, the Financial Times reports.

The two hedge funds ended their “acting in concert” agreement at the end of March. The two joined forces in September, after the Deutsche Börse’s shares lost more than half of their value. The pair, which collectively owned 19.3% of Deutsche Börse, threatened to seek “to change some members of the supervisory board in order to ensure leadership and urgency regarding any appropriate options.”

Atticus’ Deutsche Börse stake, once as high as 9%, is down to about 2% as of the firm's March 31 filing.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of