Atticus Capital

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Atticus Capital
Founded 1995
Headquarters New York
Products $13 billion of assets under management

Atticus Capital is an activist investment management firm that invests in global securities markets on behalf of major institutions, endowments, pension funds, and private investors. Founded by Timothy Barakett in 1995, Atticus is headquartered in New York with an office in London.[1]

Thomson Reuters news service reported in September of 2008 that the hedge fund lost over $5 billion in 2008 alone thanks to a 32.9 percent loss in its $7 billion Atticus European fund from the start of the year to the end of August and a 25 percent fall in its Atticus Global fund. Atticus, which views itself as a long-term investor, had delivered a strong performance in recent years.[2]Atticus denied rumors that it would liquidate its positions and close down.[3]

Atticus and fellow hedge fund The Children's Investment Fund jointly control around 19 percent of the voting rights in the Deutsche Boerse. In October of 2008, TCI wrote a letter seeking the removal of Deutsche Boerse chairman Kurt Viermetz. TCI and Atticus had previously threatened to call for boardroom changes if Deutsche Boerse didn't urgently consider ways to increase shareholder value.[4] TCI demanded an emergency shareholder meeting to seek the immediate removal of Viermetz from his position.[5]Within weeks, Viermetz announced he would step down.[6]Atticus officials said they were pleased by Viermetz's decision to resign from the supervisory board of Deutsche Boerse.[7]

History

Products and Services

The firm typically employs a merger arbitrage, event driven, and risk arbitrage strategy to make its investments.[8]


Key People

References

  1. Atticus Capital. StockPickr.
  2. Atticus Capital Said to Lose $5 Billion This Year. The New York Times/Reuters.
  3. Atticus Capital Denies Liquidation Rumors. The New York Times.
  4. Hedge Fund Demands Deutsche Boerse Chairman's Head. MarketWatch.
  5. TCI Goes After German Stock Exchange Chairman. Directorship.com.
  6. Deutsche Boerse Chairman Steps Down Early. Telegraph.
  7. Atticus Capital Welcomes Deutsche Boerse Chairman's Departure. Bloomberg.
  8. Atticus Capital L.L.C.. BusinessWeek.