Hedge Funds

Boardroom brawl at John A. Levin may spur backlash from investors

by

At least some investors in John A. Levin & Co.'s hedge fund strategies are expected to pull their cash following the removal of Levin from the board of the BKF Capital Group, his public holding company.

Levin was expected to be replaced as chief executive of his $12.5 billion firm by October 1. In August, he saw his role at the asset management shop marginalized after losing a bitter proxy battle. That fight was with a cadre of hedge fund investors led by activist Warren Lichtenstein of Steel Partners, who ironically claimed that Levin management's compensation, drawn from the