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Economic

US Elliott Holds 12.91% In Romania Proprietatea Fund

New York-based hedge fund Elliott Associates L.P., a unit of Elliott Management Corp, together with sister company Beresford, own an aggregate 12.91% in Romanian investment fund Fondul Proprietatea (FP.RO), the fund said in a statement Wednesday.

Florentina Dragu · 11 ianuarie 2012 · 1 min de citit

Elliott Associates, through its subsidiary Manchester Securities Corp, owns 11.03% in Proprietatea fund, while Beresford holds a 1.87% stake.

Fondul Proprietatea, managed by Franklin Templeton Management, was set up in 2005 to compensate Romanians whose properties were seized during communism.

The fund has a share capital of 13.77 billion lei (EUR3.1 billion).

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