Fondul Proprietatea is a Romanian energy fund with $4.4 billion in assets and is managed by Franklin Templeton. Paul Singer’s Elliott Associates is the largest shareholder in the fund, with a 15.2% stake valued at over $600 million. It is also Elliott’s third largest equity position. See Elliott’s Q2 letter to investors here Paul Singer’s activist investment in Fondul Proprietatea Elliott Associates is taking an activist approach to this investment. They have a team of lawyers in Romania that put pressure on Templeton to deliver a proper investment return. It has worked well so far, as Fondul Proprietatea is up 37%…
Paul Singer Boosts Stake In Romanian Energy Fund, Fondul Proprietatea
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