Sandell Asset Management Corporation | Hedge Fund Tracker Tool

Sandell Asset Management

Sandell Asset Management Corporation | Hedge Fund

The following piece on Sandell Asset Management is being published as part of our daily effort to track hedge funds in the industry. To review other hedge fund research notes please see our Hedge Fund Tracker Tool.

Resource #1: (12.8.08) A New York-based hedge fund is tightening its grip on Fair Isaac, creator of the FICO credit score.

Late Tuesday, Minneapolis-based Fair Isaac said in a regulatory filing that it had struck a deal with Sandell Asset Management to propose four Sandell-approved nominees for election to Fair Isaac's board.

Sandell already had two directors on the board. Each of Fair Isaac's 10 board members must stand for election every year.

Sandell, an activist hedge fund, started pushing for changes at struggling Fair Isaac in the summer of 2007. At that time, Sandell owned 5 percent of Fair Isaac's stock. It now owns almost 6 percent. Thomas Sandell, owner of the fund, wrote a letter to Fair Isaac CEO Mark Greene urging him to consider selling the company.

Six months later, Sandell inked a deal to have Nick Graziano, a Sandell executive, and Allan Loren stand for election on Fair Isaac's board. source

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