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ESL Investments' Investors Jumping Ship

Dec 10, 2013
Jing Chen

Investors in Edward Lampert’s hedge fund firm are jumping ship. 

The Wall Street Journal reported that clients of Goldman Sachs, who invested about $3.5 billion in Lampert’s ESL Investments through a 2007 deal, are asking for their money back. The redemption requests were submitted last year ahead of the five-year lockup expiration date.

Most of the investors, which consist of large institutions, got their money back this year while the rest of the money are scheduled to be paid later. The exits would return ESL’s investor base to what it was before Goldman's raise: a core group of wealthy, individual investors.

Founded in 1988 with $28 million in capital, Miami-based ESL Investments would have about $2.5 billion in AuM after the completion of the redemption requests.

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