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Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Dan Loeb Dissed by George Clooney

Aug 05, 2013
Jing Chen

Hollywood actor George Clooney has slammed hedge fund manager Dan Loeb over his attempt to break up Japanese entertainment and electronics giant Sony.

Clooney, who is currently working on post-production for his latest directing effort The Monuments Men to prepare for Sony’s December 18 release, told Deadline that while Loeb “describes himself as an activist,” he is a “carpet bagger” who is “trying to manipulate the market.”

Clooney also went out to say that the movie industry “has made a lot of money and [has created a lot of jobs],” while “hedge fund guys do not create jobs.”

eVestment previously reported that Loeb’s New York-based hedge fund firm Third Point, which is a 7% shareholder of Sony, is pressing the company to spin off part of its entertainment unit in an effort to bolster its share price by as much as 60%.

Third Point manages about $10 billion in assets. 

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