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Nelson Peltz fund to shut after shareholder row

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Nelson Peltz gets a taste of his own medicine after one in every of his London-listed funds says it’s closing following a row with major shareholders

Nelson Peltz got a taste of his own medicine after one in every of his London-listed funds said it was closing following a row with major shareholders. 

Trian Investors, which holds £440m in assets and is 28.7 per cent owned by Peltz’s Trian Fund Management, said it could hand back 95 per cent of every shareholder’s stake by the tip of June next yr. 

Spat: Nelson Peltz with daughter Nicola and wife Claudia

It marks the tip of a long-running spat which has seen 80-year-old Peltz, who has a popularity for laying siege to firms including Unilever, on the receiving end of an attack by activists at one in every of his own firms. 

A gaggle of rebel investors, which included London-based Staude Capital, attempted to take control of the fund after arguing it had fundamentally altered its investment strategy. 

They demanded it return its money to shareholders despite Peltz, who’s Brooklyn Beckham’s father-in-law, pushing to maintain the fund trading. 

Trian Investor’s chairman Chris Sherwell was ousted in a 50.7 per cent vote in favour of his removal last month. 

His alternative Mark Thompson said the proposals ‘deliver an end result which all shareholders can support’.

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