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Komfie Manalo, Opalesque Asia: Add Lone Pine Capital in the growing list of hedge funds who have thrown their support to activist hedge fund manager Sir Chris Hohn, manager of The Children's Investment (TCI) fund, to remove Donald Brydon from the board of the London Stock Exchange (LSE), reported City AM.
The Connecticut-based Lone Pine is the second hedge fund to support TCI, following John Armitage's Egerton Capital who first said it would back Hohn.
However, on the other side, the trio of hedge fund managers were also facing a formidable foe as LSE has received the support of Standard Life Aberdeen, together with other major long-term institutional investors, including Blackrock, the Qatar Investment Authority, and Aviva.
Hohn's fight with LSE was spurred by his reservation over the board's decision to dismiss former LSE chief executive Xavier Rolet.
Lone Pine's support also comes at a time when LSE has begun interviewing possible replacements of Brydon as chief executive, in a move that aims to rebuild the firm's top management team. Brydon is set to retire in 2019.
Activist hedge fund Hohn set to lose vote to oust Brydon
Meanwhile, Byrdon looks likely to survive a crunch vote this week after winning support from...................... To view our full article Click here
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