Paul Singer’s Elliott Investment Management, one of the world’s largest activist investment firms, is planning to expand its New York City office presence, four years after moving its headquarters to Florida, according to a report by the Real Deal.
The report cites unnamed sources as revealing that the hedge fund has signed a new lease for 149,000 square feet at SL Green and Vornado Realty Trust’s 280 Park Avenue, with the firm set to relocate its New York offices from LeFrak’s 40 West 57th Street.
The $66bn hedge fund will sublease 126,000 square feet on the sixth, seventh, and eighth floors from asset manager Franklin Templeton up to the end of 2031, followed by a five-year extension with the landlord. Additionally, Elliott Management has signed a direct 12-year lease for 23,000 square feet of vacant space on the sixth floor of the building.
During the pandemic, Singer’s hedge fund relocated its headquarters to West Palm Beach but retained its Midtown office space and opened an office in Greenwich, Connecticut. A significant driver behind the move was that Jon Pollock, the co-chief investment officer and Singer’s expected successor, along with other senior executives, relocated to South Florida.
Despite the headquarters move, Singer himself has continued to spend most of his time in the New York and Connecticut.
