Adam Katz, a former Elliot Investment Management executive, and Andy Dodge – ex-Induba Capital Management – to launch a mid-cap focused activist hedge fund according to Bloomberg.
Capital-riaisng is said to be already underway for the new fund, which will be called Irenic Capital, with US250 million having been raised so far, including USD150 million commitent from the Fribourg family, owners of Continental Grain Co.
