California State Teachers’ Retirement System, the second-biggest U.S. public pension system, made its first hedge fund seed investment by committing capital to activist firm Legion Partners Asset Management LLC.
Darty Plc’s largest investor plans to exercise its right to install a representative on the board of France’s biggest electronics retailer, losing patience after the company warned that annual profit is set to miss estimates.
Kesa Electricals Plc’s largest investor asked the retailer to consider options that may include ending its unprofitable U.K. Comet operations and listing its shares in Paris, according to a person familiar with the matter.
UBS AG is always looking at all shareholder suggestions, Chief Executive Officer Sergio Ermotti said, a day after investor Knight Vinke Asset Management LLC called for a spinoff of the lender’s investment bank.
Knight Vinke Asset Management LLC, the investment firm that said Nov. 30 it raised its voting stake in Kesa Electricals Plc to 8.8 percent, may seek the disposal of the retailer ’s Comet electronics chain, a sale and leaseback of its French stores or an increase in debt, UBS AG said.