Emii – They’re back. Activist hedge fund managers, who agitate to force out entrenched company managements, are in fighting form for the 2011 proxy season and stalking companies hoarding cash.
“You’re seeing more attention paid to activism, given corporate balance sheets’ cash reserves,” says Jason Orchard, a principal with New York–based fund-of-hedge-funds firm Spring Mountain Capital, which invests with activist and event-driven funds. “Companies are still a little leery on this recovery, but they have so much cash.”
