Steel Partners - Investor Profile
Primary Address: | Investor Information: | |
| 590 Madison Avenue | Total AUM ($MM): | 7,000 |
| 32nd Floor | Equity AUM ($MM): | 227 |
| New York, NY 10022 | Investment Style: | Value |
| United States | Orientation: | 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.
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
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Steel Partners's Top 10 Equity Holdings (as of 3/31/2010)
Steel Partners's Top 10 Equity Holdings (as of 3/31/2010)
| Value | ||||
| Company (Ticker) | ($MM) | Shares | Change | % Out |
| Unisys Corp (UIS) | 34.91 | 1,000,636 | 0 | 2.37 |
| Rowan Companies Inc (RDC) | 33.19 | 1,140,017 | -605,000 | 1.01 |
| Gencorp Inc (GY) | 23.36 | 4,055,737 | 540,924 | 7.03 |
| Whx Corp (WXCO) | 11.70 | 4,774,591 | 67,203 | 39.20 |
| CNO Financial Group Inc (CNO) | 7.91 | 1,271,951 | -4,096,732 | 0.51 |
| Nathans Famous Inc (NATH) | 6.90 | 445,456 | 0 | 7.94 |
| Sl Industries Inc (SLI) | 6.37 | 703,720 | 0 | 11.75 |
| Presidential Life Corp (PLFE) | 2.99 | 300,000 | 78,559 | 1.01 |
| Continental Materials Corp (CUO) | 2.10 | 144,762 | 0 | 9.06 |
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Articles Related to Steel Partners
Activist Hedge Funds are increasingly pushing former CEOs onto Boards | ||
| Date: April 15th, 2010 | ||
| 2009 saw a noticeable increase in the number of experienced executives appointed to company boards by activist shareholders. According to the Wall Street... | ||
Shareholder Vote Prevents Steel Partners from Removing Sapporo Directors | ||
| Date: April 3rd, 2010 | ||
| Hedge fund Steel Partners lost a shareholder vote for the removal of directors from Sapporo Holdings Ltd, a Tokyo-based Yebisu brewer, after about 70%... | ||
Steel Partners settles lawsuit with Carl Icahn | ||
| Date: March 13th, 2010 | ||
| Warren Lichtenstein’ Steel Partners has settled its lawsuit with Carl Icahn’s ACF Master Trust and the Icahn Global Activist Fund. According to the... | ||
Adaptec CEO replaced by Steel Partners MD John Quicke | ||
| Date: December 22nd, 2009 | ||
| Data solutions provider Adaptec, Inc. (NASDAQ: ADPT) has announced the appointment of John J. Quicke as Interim President and CEO of the company following... | ||
Is it acceptable for hedge funds to halt redemptions? | ||
| Date: December 16th, 2009 | ||
| I would like to revisit one of the most contentious decisions some fund managers made in 2008: halting or gating redemptions. The 2008 crisis was substantially... | ||
Steel Partners increases activist stake in Adaptec to 14.6% | ||
| Date: November 7th, 2009 | ||
| This week, activist hedge fund manager Steel Partners revealed that it had increased its holdings in Adaptec Inc. (NASDAQ: ADPT) by 188,931 shares, bringing... | ||
Adaptec Criticizes Steel Partners and Warren Lichtenstein | ||
| Date: October 5th, 2009 | ||
| Adaptec Inc. (NASDAQ: ADPT), a technology data storage manufacturer, issued a strongly worded letter last week to its shareholders regarding the looming... | ||
Arcadia Capital sides with Steel Partners in Proxy Battle against Adaptec | ||
| Date: September 24th, 2009 | ||
| Earlier this month, the board of directors of Adaptec (NSDQ:ADPT) stripped a Steel Partners executive of his chairman title and called for a reduction... | ||
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... | ||
