Bloomberg- Nelson Peltz, the billionaire investor known for pressing companies to take steps to increase their stock prices, is raising $2 billion for his hedge-fund group Trian Fund Management LP.
Trian set up a pair of new partnerships last month, according to private-placement notices filed with the U.S. Securities and Exchange Commission May 9. The filings show that the two partnerships hope to raise $1 billion each from investors. They have received about $700 million so far.
Trian reported earlier this month that, as of March 31, it owned 8.55 million shares in Wendy’s International Inc., making it the largest shareholder. The fast-food chain, under pressure from Peltz and fellow activist William Ackman, put itself up for sale last month and hired JPMorgan Chase & Co. and Lehman Brothers Holdings Inc. to help evaluate potential suitors.
Trian’s other holdings, not including options, included 18.63 million shares in Pittsburgh-based H.J. Heinz Co. the world’s biggest ketchup maker, and 1.55 million shares in New York-based jeweler Tiffany & Co. Peltz used Trian’s Heinz stake to fight for a larger marketing budget and a seat on the company’s board last year.
Anne Tarbell, a spokeswoman for New York-based Trian, declined to comment. Trian filed documents in April showing that the hedge-fund group was raising $1.5 billion through three Trian II partnerships, according to Dow Jones Newswires.
