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

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

Steel Partners’ Faces More Conversion Troubles

Date: April 22nd, 2009
Reuters reports that Warren Lichtenstein’s conversion of Steel Partners II to a publically-listed partnership encountered a setback yesterday when a...

Activist Steel Partners Faces Off with Its Own Investors

Date: April 20th, 2009
Steel Partners’ founder Warren Lichtenstein, who is known for speaking his mind and shaking up management at troubled companies, is facing resistance...

Another Japanese Co Foils Steel

Date: April 16th, 2009
In a press release today, Aderans Holdings (8170.T) announced that it was getting help from private equity firm Unison Capital Group in its attempts to...

Steel Partners gives up on Noritz buyout

Date: March 24th, 2009
Steel Partners has withdrawn its proposal to buy Noritz Corp (5943.T), a Japanese gas and water heater maker. The activist hedge fund, which holds an...

Steel Partners Abandons Larger Sapporo Stake

Date: February 17th, 2009
Warren Lichtenstein’s Steel Partners said that it will abandon its attempt to increase its stake in beer maker Sapporo Holdings Ltd to 33%. Steel Partners...

Steel Partners makes offer for Noritz

Date: September 12th, 2008
Steel Partners has offered to buy-out Noritz Corp, a Japanese gas and water heater maker, for $394 million. Steel Partners currently is the company’s...

Steel Partners wants to put Point Blank in Range

Date: August 8th, 2008
Steel Partners has sent a letter to Point Blank Solutions pressing for the company to stop postponing its annual meeting. The letter is the latest in...

Steel Partners Wants Sapporo to Hire I-Bankers

Date: July 9th, 2008
Steel Partners is demanding that Japanese beer maker Sapporo Holdings to hire an investment bank to explore strategic options, which may include a sale...

Steel Partners Ousts Board of Aderans

Date: May 29th, 2008
U.S. activist hedge fund Steel Partners has helped block the re-election of the board of Japanese wig-maker Aderans Holdings. This is the first time...

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