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Activist Funds Convince Investors to Stay Longer

Hedge fund lockups are varied and usually short. But some event-driven funds are getting two years or more.

The antiactivist set likes to paint hedge fund activists as self-serving, short-term exploiters of shareholder value. Sometimes they’re right. In most cases, however, activist campaigns last longer than skeptics want people to believe, a belief shared by many investors. As a result, in recent years a growing number of activist hedge funds have

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