Sunday September 20, 2020

US activist fund Teleios Capital builds up 10 per cent stake in Glenveagh Homes

Investment by Epstein vehicle Teleios Capital and similar move by Italian hedge fund follow Davy’s reassurance of future growth in sector

Barry J Whyte

Chief Feature Writer

@whytebarry
6th September, 2020
Teleios’s stake in Glenveagh comes at the same time that the Italian hedge fund Helikon Investments, last week spent about €6 million to push its stake in the housebuilder to 7.1 per cent, worth around €44 million

Teleios Capital, an activist fund run by American investor Adam Epstein, has increased its stake in Glenveagh Homes to more than 10 per cent, stock exchange filings show.

Last week, the company spent nearly €4.4 million to bring its stake in the Irish housebuilder to just over 10 per cent, meaning it has invested around €58.2 million in total. That stake is currently worth nearly €62 million at the current share price of 71 cent.

Teleios is known...

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