Monday, June 11, 2007

Reports Lampert Is Looking to Raise Between $3-$5 Billion for Hedge Fund

According to reports from CNBC's David Faber, hedge fund guru Eddie Lampert is looking to raise between $3-$5 billion for his ESL hedge fund through Goldman Sachs. The minimum investment would be $25 million, with a 5-year lock-up.

Lampert currently owns large stakes in Autozone (NYSE: AZO), AutoNation (NYSE: AN), and Sears Holdings (Nasdaq: SHLD). Lampert also recently disclosed a 15,244,168 share stake in Citigroup Inc. (NYSE: C). He also has small stakes in Clear Channel Communications (NYSE: CCU) and Motorola Inc. (NYSE: MOT

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