Nelson Peltz is getting a taste of his own medicine after one of his London-listed funds says it will be shut down after a row with major shareholders
- It marks the end of a longstanding altercation that has seen 80-year-old Peltz
Nelson Peltz got a taste of his own medicine after one of his London-listed funds announced it was closing after a dispute with major shareholders.
Trian Investors, which has assets of £440m and is 28.7 per cent owned by Peltz’s Trian Fund Management, said it would return 95 per cent of each shareholder’s stake by the end of June next year.
It marks the end of a longstanding dispute in which 80-year-old Peltz, who has a reputation for besieging companies like Unilever, was the victim of an activist attack on one of his own companies.
Spat: Nelson Peltz with daughter Nicola and wife Claudia
A group of rebellious investors, including London-based Staude Capital, tried to take control of the fund after claiming they had fundamentally changed their investment strategy.
They demanded that it return its money to shareholders, despite urging Peltz, Brooklyn Beckham’s father-in-law, to keep the fund afloat.
Trian Investor chairman Chris Sherwell was ousted last month with 50.7 percent for his impeachment.
His successor, Mark Thompson, said the proposals “deliver an outcome that all shareholders can support.”
