Nelson Peltz, co-founder and CEO of hedge fund manager the Trian Group (Trian Fund Management), has begun raising capital for a new hedge fund that will target investments from funds of funds, sovereign wealth and pension funds, and family offices. According to Bloomberg, Mr. Peltz has already raised $433 million for his latest venture and is looking to secure a total of $1.5 billion in commitments.
Nelson Peltz, who is well-known for his shareholder activist tactic of purchasing stakes in companies and then pressuring them to increase their value with mergers or cost cuts, is planning to pursue a similar strategy with this latest investment vehicle. Sources have revealed that Trian’s newest hedge fund will also purchase minority stakes in public companies and will then seek representation on the targets’ boards. However, Mr. Peltz, the largest investor in Wendy’s/Arby’s Group Inc. (NYSE: WEN), plans to lock-in his investors’ assets for a long period of time and so is offering his venture with a structure that is similar to that of a private equity fund.
Today, Trian owns approximately 21% of Wendy’s/Arby’s. |
