Hedge Fund News: Kenneth Griffin, Nelson Peltz & Valueact Capital

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Citadel Founder Splits With Wife (Finalternatives)
Citadel Investment Group founder Kenneth Griffin has filed for divorce from his wife of 10 years. Griffin’s lawyers filed the petition for dissolution yesterday, they said in a statement. His wife, Anne Dias Griffin, said through her attorney that the divorce filing was unilateral and made “with no notice to either me or my client.” Robert Cohen said Griffin’s filing came after “she had just left for summer vacation with their three young children and would therefore be unable to respond.”

Ken Griffin with computers

Getting Over Hedge Funds (BloombergView)
During the past few months, we have posted a few words here on the quandary that is hedge funds. The first such effort was titled “The Hedge-Fund Manager Dilemma,” and it explored the public’s fascination with the hedge-fund crowd. The second, “Why Investors Love Hedge Funds,” looked at why, despite stunning underperformance during the past decade, so much money was still flowing to the hedge funds. Now, we are seeing early signs that some institutional investors are losing patience. Case in point: California Public Employees’ Retirement System…

Activist Elliott Management sets its sights on IPG (Reuters)
Activist hedge fund Elliott Management has taken a 6.7 percent stake, worth about $570 million, in advertising firm Interpublic Group of Companies Inc (NYSE:IPG), setting up a showdown that could result in a sale. The $24 billion hedge fund run by Paul Singer disclosed in a regulatory filing on Thursday that IPG’s shares “are undervalued and represent an attractive investment opportunity.” Elliott said it wants to “engage in a constructive dialogue” with the company’s board of directors to maximize shareholder value.

Nelson Peltz Gets California Teachers Pension On His Side In His War Against PepsiCo (JewishBusinessNews)
Activist investor Nelson Peltz has won the support of the California State Teachers’ Retirement System, one of the largest pension funds in the US, in his campaign against PepsiCo, Inc. (NYSE:PEP), the NY Times reported. Last month the retirement system, known as Calstrs, sent a letter to a senior PepsiCo director, demanding that the company put Peltz on the board. Mr. Peltz’s hedge fund, Trian Partners, which owns a 0.8 percent stake in the company, has locked horns with PepsiCo management for a year, calling on it publicly to separate its snacks and beverage businesses – but to no avail.

How To Get A Job At A Hedge Fund (Forbes)
Though quite a few hedge funds were severely battered by the Great Recession, the business still holds a powerful allure. Mysterious and secretive, hedge funds dangle the possibility of enormous paydays and a work environment populated by intense math geniuses who dwell in giant Connecticut mansions or Upper East Side townhouses studded with artworks by Jeff Koons and Damien Hirst. What’s the hiring picture at these firms? Must you be a financial wiz with an IQ of 140 to even get a foot in the door?

Alternative investments in low-rate world (CNBC)

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