Activism is on the up - that much is for sure. But who in the world of sabre-rattling activist investing holds the most sway?
The FT wants to know. Are you a pension fund manager, gleeful that a hedge fund in which you invested in is pressing for better performance? A fund manager riding on the coat-tails of some of these activists? Or just a company executive fed up with, or just fearful of troublesome investors?
Who would you say are the most influential, effective, or just downright entertaining activist investors? Here’s a few suggestions to get you going - pick a favourite, add another, or just tell us who you love to hate.
Bill Ackman (Pershing Square Capital) — Ackman has campaigned against McDonald’s and Wendy’s in recent years, and is now taking aim at Barnes & Noble and Borders, the book store groups.
Anthony Bolton (Fidelity) — Behind the scenes kingmaker at companies such as Deutsche Börse and VNU
Richard Breeden — Former SEC chairman and court-appointed monitor of KPMG, WorldCom and Hollinger following their accounting scandals. Last year, he set up an activist fund. His first target: Applebee’s, the family-style restaurant chain.
Reade Griffith (Polygon) - Best known for fighting the government-led overhaul of the failing British Energy.
David Herro (Harris Associates) – Currently fighting for a higher takeover price from Citigroup for Nikko Cordial. Also was vocal investor in Euronext and Deutsche Börse.
Chris Hohn (TCI) — Head of The Children’s Investment fund, made his name helping to oust CEO of Deutsche Börse. Now attacking ABN Amro.
Carl Icahn - Attacked Time Warner last year, but was unsuccessful in his bid to break up the company. Now he’s going up against Motorola.
Kirk Kerkorian (Tracinda) — Kerkorian has thrown his hat in the ring for Chrysler, after previous agitation at both Chrysler and GM
Eric Knight (Knight Vinke) — Knight made his name fighting the management of European groups such as Suez and VNU
Nelson Peltz (Trian) - A candidate thanks to his headline-grabbing campaigns versus Heinz last year and, more recently, Cadbury Schweppes.
David Slager (Atticus) — Slager was a key player in shareholder revolt at Deutsche Börse, also vocal shareholder of Arcelor.
Sparx Asset Management — Currently engaged in a battle over valuation of camera maker Pentax
Ralph Whitworth (Relational Investors) — Whitworth mounted the swiftest and most successful campaign against a large US company ever seen this year when he took a small stake in Home Depot, pushed out its CEO and forced the company to put its supply-division up for sale.
Or perhaps you like the look of one of these:
Centaurus - joined forces with Paulson, below, to call for a break-up of Dutch conglomerate Stork, and to demand changes at Ahold, the Dutch food retailer
Paulson
Capital Group - secretive US group
Steel Partners - US-based activist hedge fund controlled by Warren Lichtenstein, which has been making waves in Japan
Hermes - UK investor currently taking aim at VW’s supervisory board chairman
Calpers - huge US pension fund that pioneered activism in the US
Bernard Arnault - France’s richest man unexpectedly took a 9.1 per cent stake in retailer Carrefour last month, with Colony Capital
Toscafund - tends to operate without the public attacks that characterise other investors, with holdings in Collins Stewart, ABN Amro and Prudential.
Hae Sung Jung
Third Point - headed by Daniel Loeb, known for his venomous tongue and sarcastic turn of phrase, both well showcased in his one of his latest missives.
Brandes - US investor that took stakes in HMV and ITV, and has started to venture into Asia
[…] FT Alphaville is assembling a list of the top activist hedge funds. […]