Paul Singer Wants More Time

Elliott Management’s call for investors to lock up their money meets resistance from the union at one of its target companies.

(Taylor Glascock/Bloomberg)

(Taylor Glascock/Bloomberg)

The union representing workers at AT&T, one of Paul Singer’s most recent activist targets, is asking investors in his Elliott Management hedge fund to resist locking up their money.

Saying that its activist investments are taking longer to bear fruit, Singer’s Elliott Management hedge fund has asked some investors in its $40 billion hedge fund to lock up their capital for 18 months — albeit with a lower management fee — or face a mandatory redemption, according to Bloomberg.

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