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Opalesque Exclusive: Okumus Capital seeking board seat in Bisys Inc. Ahmet Okumus, the president of Okumus Capital, New York based hedge fund with assets in excess of $1B, is seeking a board seat in Bisys Group, a provider of outsourcing services for the financial services sector. The funds managed by Okumus Capital have a combined stake of almost 11% in the company. Roseland, N.J.-based Bisys has been considering selling itself since August, when it hired Bear Stearns as an adviser.

However, Bisys is not Okumus Capital’s biggest holding. The firm’s biggest holding is First Data Corp, provider of electronic commerce and payment services for financial institutions, which accepted a $25.6B buyout from private equity firm Kohlberg Kravis Roberts & Co on April 2, 2007. The $34 per share deal is an approximately 26 percent premium over First Data's closing price the previous trading day. Firm founder Ahmet Okumus feels that lot of the undervalued companies that he targets for investment make excellent takeover candidates, nevertheless he insists that his investment decisions is not based on this thought process.

Second hedge fund attacks eSpeed From FinancialNews-US.com: Willow Creek Capital became the second hedge fund in less than two weeks to criticize Cantor Fitzgerald for undervaluing its electronic trading platform eSpeed and creating an unfair voting structure. In a letter to Cantor Fitzgerald chairman and chief executive officer Ho......................

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