Polygon breaks the multistrat mold - just don't call it activist
By Barry Cohen
Alex Jackson, Reade Griffith, Paddy Dear (left to right)
Those who think Polygon Investment Partners is European no doubt haven't been reading the British press, where it has been referred to as a "secretive, aggressive American hedge fund" for its well-publicized shareholder role in such hostile M&A deals as British Energy and Telent. Polygon's actions in those situations have a decidedly American bent, earning the multistrategy firm the activist label.
Polygon denies being an activist firm, preferring the term "active." But there's no denying that, like rock'n'roll, hedge funds are an American invention. And like some rock stars who went before them (Jimi Hendrix comes to mind), the Americans who started Polygon got their start across the pond. To continue the rock analogy, one might even argue that Polygon, like the Beatles or the Rolling Stones,...