Pirate Capital, the $1.8 billion activist firm founded by
Tom Hudson, could face substantial redemptions by yearend. But
the effect on the firm could be minimal. Pirate could hold a
large cash hoard from recent stock sales and the impending sale
of Intrawest, a large holding. As a result, the firm is in
shape to meet hundreds of millions of dollars in potential
redemptions should they materialize.
Investors must soon...