Rolling Stone: Dan Loeb Simultaneously Solicits, Betrays Pension Funds

[Omaha Steve]

http://www.rollingstone.com/politics/blogs/taibblog/dan-loeb-simultaneously-solicits-betrays-pension-funds-20130411#ixzz2QBgEWGZh

POSTED: April 11, 2:45 PM ET

There's confidence. There's chutzpah. And then there's Dan Loeb, hedge fund king extraordinaire and head of Third Point Capital, who's getting set to claim the World Heavyweight Championship of Balls.

On April 18, Loeb will speak before the Council of Institutional Investors, a nonprofit association of pension funds, endowments, employee benefit funds, and foundations with collective assets of over $3 trillion. The CII is an umbrella group that represents the institutions who manage the retirement and benefit funds of public and corporate employees all over America – from bricklayers to Teamsters to teachers to employees of Colgate, the Gap and Johnson and Johnson.


Dan Loeb
Simon Dawson/Bloomberg via Getty Images

Loeb is going to be, in essence, pitching his services to these institutional investors. He already manages the money for several public funds, including the Ohio Public Employees' Retirement System, the New Jersey State Investment Council, the Sacramento County Employees' Retirement System, and the City of Danbury Retirement System. To give you an idea of the scale, New Jersey alone has $100 million invested with one of Loeb's funds.

When he comes to speak at CII, Lobe will almost certainly be seeking new clients. There will be some serious whales in these waters: For instance, CalSTRS, the California State Teachers' Retirement System, will definitely be represented (Anne Sheehan, the director of corporate governance for CalSTRS, will be moderating Loeb's panel).

Read more: http://www.rollingstone.com/politics/blogs/taibblog/dan-loeb-simultaneously-solicits-betrays-pension-funds-20130411#ixzz2QCpe0GyR
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