Despite winning an activist battle in Japan last year—a rare feat, indeed—hedge fund Steel Partners can’t seem to keep anyone at the helm in the Land of the Rising Sun.
Mark O’Friel, who became the New York activist shop’s top man in the country last July, left the firm last month, Reuters reports. O’Friel had joined the firm last year to replace Yusuke Nishi, who co-founded the Japanese arm, and will in turn be replaced by Katsuyoshi Tanaka, who has been promoted from within the firm.
Last May, Steel defeated wigmaker Aderans Holdings in a proxy battle, ousting most of its board and installing one of its own managing partners on its board of directors.
Genna GarverBy Genna Garver, John Brunjes, and Cheri Hoff of Bracewell & Giuliani -- On Oct. 27 the Private Fund Investment Advisers Registration Act of 2009 (H.R. 3818) moved one step closer to becoming law with the 67-1 approval of the U.S. House of Representatives Committee on Financial Services (the "Bill"). More...
Investors this week announced the formation of NewWorld Capital Group, a private equity firm that will invest in middle-market companies and related infrastructure projects in the cleantech sphere. More...