Activism Grows Crowded as the Rewards Remain Rich

As new names enter the market, competition and crowding increases for all funds. Will returns hold up?

Is there a bubble building in activist investing?

It does seem more crowded. In addition to the usual cast of characters, a number of new participants have joined the fray in the past few years.

They include Carl Icahn’s onetime right-hand man Keith Meister of New York–based Corvex Management; former Pershing Square Capital Management partner Richard T.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.