Mar
14
South Korean Hedge Fund Inspired by Elliott Eyes Chaebol Cash
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Lime Asset says country’s conglomerates will have to dip in
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Free cash flow at Korea’s largest firms tripled since 2008
A homegrown hedge fund has taken up activism in South Korea, betting the country’s family-owned conglomerates will have to deploy their cash hoards.
The timing couldn’t be better after Elliott Management Corp.’s campaign pushedSamsung Electronics Co. to boost its dividend and amid the start of a stewardship code last December.
Lime Asset Management Co., which oversees $500 million, started its first activist fund in November. The Seoul-based money manager is seeking to press firms with high cash levels to return it to shareholders, according to Lime Chief Executive Officer Jongjun Won. The fund has made investments but Won declined to comment on specific companies…
South Korean Hedge Fund Inspired by Elliott Eyes Chaebol Cash
