Elliott Management Corporation

Elliott Management Corporation, a global hedge fund with its headquarters in New York City, has emerged as a formidable player in the world of activist investing. Founded in 1977 by Paul Singer, Elliott has carved a niche for itself through bold strategies and astute maneuvering in financial markets. With its unconventional approach to portfolio management, Elliott has become a force to be reckoned with, reshaping corporate landscapes and advocating for shareholder rights.

What sets Elliott apart from traditional hedge funds is its founding story. Paul Singer, a former corporate lawyer, started the firm with a modest capital of $1.3 million, primarily from family and friends. Initially, the fund focused on convertible arbitrage, a conservative investment strategy. However, under Singer’s leadership, Elliott pivoted towards distressed debt and other alternative investments, marking the beginning of its unconventional journey.

Elliott’s prowess lies in its activism strategy. Unlike many passive institutional investors, Elliott actively engages with underperforming companies to unlock shareholder value. The firm has an impressive track record of pushing for strategic changes, boardroom reshuffles, and corporate governance reforms in its portfolio companies. One notable example was Elliott’s involvement in the takeover of Samsung C&T by Cheil Industries in 2015, a pivotal moment in South Korean corporate history.

Elliott is no stranger to high-profile legal battles. The fund has engaged in several litigations with sovereign states, multinational corporations, and even international organizations. A landmark case unfolded in 2012 when Elliott famously sued Argentina over its defaulted debt, resulting in a contentious and prolonged legal saga. The eventual settlement in 2016 saw Elliott walking away with a substantial return on its investment.

Elliott’s influence reaches far beyond the United States. With offices in major financial centers across the globe, including London, Hong Kong, and Tokyo, the fund boasts a truly international presence. The firm’s assets under management (AUM) stand at $40 billion. This makes Elliott one of the largest and most influential hedge funds globally.

Key Contact: Paul Singer, Founder & CEO

Geographic Focus: Global

Notable Activist Investments:

• EMC Corporation (NYSE: EMC)
• Interpublic Group of Companies, Inc. (NYSE: IPG)
• Hess Corporation (NYSE: HES)
• Informatica Corporation (NASDAQ: INFA)
• Novell, Inc.