USA Investment5 Jun 2018 17:00
Last week Brookdale International Partners purchase 6% of the shares. Sherborne holds a 30% stake in Electra Private Equity. New York-based activist Edward Bramson described as �pond scum� also owns 5% of Barclays Bank.
Bramson has bought stakes in a series of British companies in the past 15 years and has reaped returns averaging 22.8% a year. He typically does so by buying a sizeable stake, demanding a seat on the board and then pushing for cost cuts, payouts to shareholders and other changes that boost returns. Bramson was born and grew up in England. His mother was British and his father American.Sherborne describes itself as a �turnaround investment firm�. Other more blunt descriptions for activist investors like Bramson include �corporate raider� and �asset stripper�.
Bramson mostly notably took control of Electra Private Equity, battled his way onto the board, cut costs and sold off various assets to raise �1.35bn for shareholders. Bramson previously staged coups at F&C Asset Management, chemicals firm Elementis and telecoms business Spirent Communications.
Ameriprise Financial, Inc. 19.9%
Aviva plc 19.1%
Sherborne Investors GP, LLC 19.0%
FIL Limited 10.0%
Invesco Limited 6.2%
Insight Investment Management 5.7%
Is it time to dip in ?