Toscafund halves Stake in key investment Aberdeen Asset Management

October 3rd, 2009
| More
Toscafund, the activist hedge fund run by Martin Hughes, has sold half of its stake in Aberdeen Asset Management to Japanese bank Mitsubishi. According to an article from the Telegraph, Toscafund’s assets have fallen in half since 2008 and the fund has reportedly begun selling down stakes to meet investor redemption requests.

Aberdeen had become the hedge fund’s largest investment since the initial purchase in March of 2008; in April of 2009 Toscafund revealed that it had trimmed its shares in the firm, and this latest decision to halve its stake in Aberdeen has prompted speculation about renewed pressure from the fund’s investors. Martin Hughes had cited Aberdeen’s potential as a reason for investors to keep their money with Toscafund earlier this year. Following the deal, Mitsubishi became the second-largest shareholder in Aberdeen.

Toscafund is a subsidiary of Old Oak Holdings, a financial service and investment group. Before founding Toscafund, Mr. Hughes was the head of equity research at Credit Lyonnais and a portfolio manager at hedge fund manager Tiger Management.
See Source
For Detailed Investor Profiles on these Investors, click below:
Tiger Global Management
Related People: Chase Coleman; Feroz Dewan; Julian Robertson; Martin Hughes; Neeraj Chandra
Related Entities: Old Oak Holdings; Tiger Global Funds; Tiger Management Corporation; Tiger Technology LP; Toscafund
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles

More Recent Headlines

Former Marshall Wace partner launching Belay Partners

Fraud Watch: A Virtual Reality for Investors

Shamrock Activist Value Fund increases stake in Mobile Mini

GLG Partners Launches new fund from its Distressed Strategy

Deloitte’s Asset Management Services Hires Ellen Schubert and Ray Iler

Another Investor Scam? David Lucas sued by Bonita Bay Members

Leaping off of the Hedge Fund slush pile: How to get noticed during Capital Intros

Ponzi Scheme Preys on Elderly and Retired

Oaktree Capital gets $1 billion from China Investment Corp

Yahoo Board Director Maggie Wilderotter Makes for the Door