(Reuters) Hedge fund manager Warren Lichtenstein, well known for successfully pushing companies to perform better, is raising a new fund for the first time in nearly a quarter of a century in order to buy stakes in underperforming companies.
Lichtenstein’s Los Angeles-based Steel Partners plans to raise $500 million for its new portfolio, the S-III Opportunity Fund, the fund manager told investors in a letter dated Jan. 17 and seen by Reuters on Tuesday.
