Hedge fund 'bad boy' ups Liontrust stake to 10%

Reade Griffith, the hedge fund manager who built sizeable stakes in Ashcourt Rowan and WH Ireland last year, has upped his stake in Liontrust Asset Management to 10%.

Griffith, the founding partner of Polygon Capital, was labelled the ‘bad boy' of the industry by Forbes in 2009 after gating investors facing losses, but has become known more recently for his interest in UK-listed wealth and asset managers. A stock exchange announcement reveals Polygon took a 10% stake in Liontrust on 15 April, via derivatives, having initially opened a 6.8% position last March. The move firmly positions Polygon, which runs event-driven strategies, as Liontrust's second largest shareholder. Schroders remains the fund house's largest investor with a stake of around 20...