Hedge Fund SpringOwl Starts New Activist Fund After Viacom Battle

An activist investment firm that helped oust Viacom’s chief executive this year plans to launch a new fund in the fourth quarter, one of its co-founders said on Tuesday. SpringOwl Asset Management, the three-year-old firm founded by Jason Ader and Andrew Wallach, plans to invest in real estate, financial services, consumer and technology companies. Ader, Wallach and their team currently invest roughly US$140 million in managed accounts for wealthy families, earning returns between 20 percent and 40 percent this year alone. That beats the average activist fund’s 5.6 percent return. Ader, who earned his reputation on Wall Street as a gaming analyst, said SpringOwl has more ideas than cash. His goal is to raise several hundred million dollars and cap the fund at US$2 billion.