(REUTERS) Trian Fund Management LP, the activist hedge fund run by billionaire investor Nelson Peltz, is ending quarterly redemptions by its new investors, according to people familiar with the matter, in order to lock in money for longer periods.
The change comes as activist hedge funds increasingly seek more stable sources of funding that allow them to keep the pressure on companies, without fretting about the short-term demands of the funds’ investors.Trian is closing its quarterly subscription for investors after Dec.1, the people said. Investors who come in after that date will instead have the option to lock up their money in one of Trian’s existing one-, three- or five-year vehicles, the people added.
