A group of dissident shareholders led by the ASX-listed Global Value Fund has called on investment bank Jefferies to abstain from a crucial vote to decide the future board of activist Nelson Peltz’s Trian Investors 1 fund.
The plea is the latest move in an intensifying battle waged by shareholders of Mr Peltz’s fund, which listed in London in September 2018 with the sole aim of generating returns by targeting an undervalued business.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
