Hedge Fund Lansdowne Partners Buys Shares in Manchester UnitedLansdowne Partners, a London-based hedge fund, is understood to have bought about 3 percent of the 5 percent shares in Manchester United, an English professional football club also known as Red Devils.
One of London’s top hedge funds has emerged as owner of most of the Manchester United shares recently sold by the football club’s owners, the Glazer family, writes Dominic O’Connell.
Lansdowne Partners, which manages about $18bn (£11bn) of clients’ funds, is understood to have bought about 3% of the 5% sold by the Glazers last month. Lansdowne, a long-term investor in the Premier League club, now owns almost 10% of the “A” shares listed on the New York Stock Exchange. A minority of the club’s shares are publicly traded; the Glazers retain control through a separate, unquoted class of “B” shares, which have greater voting rights.
The Glazers, a Florida-based family with interests in property, retailing and sports, took control of Manchester United in 2005.Source: The Sunday Times