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Hymowitz Wins $600 Million to Back Activists From Ubben to Peltz

Business Week – Hymowitz, the money manager who began backing activists such as Carl Icahn and Warren Lichtenstein more than a decade ago, is seeking to capitalize on a wave of hedge funds now pushing for changes at companies from Apple Inc. to Microsoft Corp.

Entrust Capital Inc. raised about $600 million in late 2013 to allocate money solely to funds run by shareholder activists, Hymowitz, who heads the New York-based firm, said in an interview. The money raised includes the Entrust Global Activist Fund LP, a fund of funds opened in November that is investing with money managers including Jeffrey Ubben and Nelson Peltz.

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