Steel Partners - Investor Profile


Primary Address:

Investor Information:

590 Madison AvenueTotal AUM ($MM):7,000
32nd FloorEquity AUM ($MM):227
New York, NY 10022Investment Style:Value
United StatesOrientation:Shareholder Activist
Phone: 212-520-2300 Investor Type:Hedge Fund Manager

Institutional Investor Background


Steel Partners is a hedge fund manager that was founded by CEO Warren G. Lichtenstein and Lawrence Butler in 1990. The firm manages hedge funds and investment pools, which include Steel Partners II, L.P. Steel Partners II Master Fund L.P. and WebFinancial L.P. The firm also manages Steel Partners Japan Strategic Fund, a hedge fund that invests in Japan, and Steel Partners China Access I LP, a private equity fund that invests in China. Mr. Lichtenstein currently serves on the board of directors of GenCorp Inc (NYSE: GY), SP Acquisition Holdings, Inc (AMEX: DSP), and the WHX Corporation (NASDAQ: WXCO). He previously served on the board of directors of SL Industries, Alpha Technologies Group, Aydin Corp., BKF Capital Group, CPX Corp, ECC International, Gateway Industries, KT&G Corp., Layne Christensen Co., PLM International, Puroflow Inc., Saratoga Beverage Group, Synercom Technology, TAB Products, Tandycrafts, Tech-Sym Corp., United Industrial Corp., and U.S. Diagnostic Labs. In June 2009, Mr. Lichtenstein got court approval to convert Steel Partners II into a publically-listed investment company. The firm is based in New York with an additional office in Tokyo,Japan.

Investor Regional and/or Country Focus: Global

Founders and Key Executives of Steel Partners: Warren G. Lichtenstein; Lawrence Butler; Joshua Schechter

Entities related to Steel Partners: Steel Partners; Steel Partners II Master Fund LP; Steel Partners Japan Strategic Fund; Steel Partners LLC; WebFinancial LP

*Denotes that the person or entity is no longer related to the firm. **If you would like to submit investor updates, please click here. ***Relevant firms may include firms where founders previously worked, funds that were spun-off from the firm, funds that were seeded by the firm and/or unrelated firms that were founded by veterans of the fund. For specific details, please review the Investor Background sections for each firm of interest.



Steel Partners's Top 10 Equity Holdings


Value
Company (Ticker) ($MM) Shares Change % Out
Handy & Harman Ltd (HNH) 111.25 7,228,735 0 57.16
Gencorp Inc (GY) 55.61 4,180,997 0 7.11
Steel Partners Holdings L.p. (SPLP) 25.57 1,877,207 0 7.46
Moduslink Global Solution (MLNK) 21.39 6,481,185 0 14.79
Nathans Famous Inc (NATH) 18.82 445,456 0 10.24
Sl Industries Inc (SLI) 18.04 994,840 0 21.92
Forbes Energy Services Ltd. (FES) 10.53 2,861,932 2,861,932 13.68
Selectica Inc (SLTC) 3.81 420,768 0 15.25
Chimera Investment Corp (CIM) 2.90 909,700 909,700 0.09
Timken Co (TKR) 2.26 40,000 40,000 0.04

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Articles Related to Steel Partners


Warren Lichtenstein’s Steel Partners convinces Noritz Chairman to Quit

Date: August 17th, 2009
Warren Lichtenstein’s Steel Partners has racked up another victory in Japan. Earlier this month, the activist hedge fund manager's criticisms of the...

Steel Partner’s Warren Liechtenstein Prepares for Bank Chairman Role

Date: August 16th, 2009
Although activist investor Warren Liechtenstein’s Steel Partners has taken heavy losses for the fiscal year 2008, the firm still has reasons to keep...

Steel Partners’ designated director resigns from Rowan board

Date: August 8th, 2009
Lawrence Ruisi, director on the board of Rowan Companies Inc. (NYSE: RDC) offered to resign on July 29. According to Reuters, in February, the oil and...

Steel Partners says Carl Icahn Fights on in Caymans

Date: July 21st, 2009
Steel Partners has merged its Steel Partners II fund into WebFinancial, a pink sheets portfolio company, despite Carl Icahn and other investors’ attempts...

Steel Partners Japan's O'Friel Resigns, Replaced by Tanaka

Date: July 9th, 2009
The head of Steel Partners’ Japan-based team, Mark O'Friel, has resigned and has been replaced by Katsuyoshi Tanaka. According to Reuters, Mr. O'Friel...

Steel Partners Receives Court Approval, Icahn-led Investor Group Enraged

Date: June 21st, 2009
On Friday, activist hedge fund manager Warren Lichtenstein received court approval to move along with his plan to convert the Steel Partners II hedge...

Shareholder Activist Week in Review

Date: June 1st, 2009
With proxy season in full throttle this past week, many of the most heated shareholder activist battles experienced major developments. The biggest activist...

Aderans’ Shareholders Vote in Favor of Steel Partners’ Activist Agenda

Date: May 29th, 2009
For the second year in a row, Aderans Holdings’ (8170.T) shareholders voted in favor of Steel Partner’s activist agenda. Yesterday, investors elected...

Unison Capital raises Aderans Offer to Thwart Steel Partners

Date: May 25th, 2009
Private equity firm Unison Capital has raised its offer to purchase a 35% stake in Aderans Holdings (8170.T). As reported by Reuters, the new offer is...

Steel Partners Urges Aderans’ Shareholders to Oppose White Knight

Date: May 12th, 2009
Reuters has reported that activist hedge fund Steel Partners sent a letter today to fellow shareholders urging them to reject private equity firm Unison...


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