Billionaire hedge fund manager Paul Singer, the founder of Elliott Management, is going after people who have shared his investor letters with “unauthorised” people.
Singer has “learned the identities of certain individuals who breached their confidentiality obligations”, according to a recent letter obtained by Wall Street Journal’s Juliet Chung,
Hedge fund managers typically send out letters to their investors either every month or every quarter, and they’re not usually made public.
Singer writes that the fund “takes seriously the protection of such information for the benefit of all our investors.”
The individuals identified by Elliott aren’t investors in the fund, the report said. Elliott also sends its letters to lawyers, accountants, and consultants, the report noted.
Singer, a former corporate attorney, could seek legal action too. Singer wrote that they’re “taking action against and seeking monetary damages from violators of the agreement.”
It sounds like Singer means business. This is, after all, the same fund manager who seized a ship belonging to Argentina’s navy.