Hi all,
In this morning's Due Diligence (FT newsletter) there's a segment on departures from Elliott in London - quite a few PMs across public equity, privates, real estate. Anyone has any idea what's going on? There's very little context obviously, but it doesn't seem to be performance driven (I was under the impression they were doing quite well in Europe, and with the cycle turning as it has, they should have quite a bit of work to do these days).
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Overheard that they seem to be run out of US. Also lack of sizable special sits in Europe.
Yes, they're ran from the US ofc, Singer's son runs the London office though and they have pretty large autonomy for Europe and Asia (Asian office closed and moved ops to London).
Don't agree with your 2nd point: they've been quite active around here in equity activism and they're a key player in large-cap distressed. While I agree the latter hasn't been that prolific in the past 10-12 years, why would you start firing now when the cycle is finally turning?
Not really, what campaigns in equities in Europe have they run in the past year? Can’t remember any at all.
Have any former Elliott team members from the London office set up their own funds in Europe ?
Several, the most recent I think is Frank Tuil with Sparta. Not sure about these recent departures though (from the FT article I mean)
Great thanks, is hiring for these types of funds typically very unstructured ?
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