Markets

Second London hedge fund takes short bet against Kerry Group

Greenvale Capital joins Marshall Wace in betting that the food giant’s shares will continue to fall

Edmond Scanlon, chief excecutive of Kerry Group: Greenvale Capital, which has nearly £1 billion worth of assets under management, has taken its short position on 0.5 per cent of shares in Kerry Group. Picture: Bryan Meade

A second London-based hedge fund has taken a substantial short bet against Kerry Group, one of Ireland’s largest and most successful companies.

Central Bank data released last week shows that Greenvale Capital, which has nearly £1 billion worth of assets under management, has taken its short position on 0.5 per cent of shares in Kerry Group.

At the company’s share price of slightly over €91, that means that Greenvale is betting against more than €80 ...