Canadian hedge fund manager Anson Funds is backing an activist investor who's fighting for control of First Capital Real Estate Investment Trust.
Anson says First Capital is undervalued and has aligned itself with Samir Manji, the real estate executive who's trying to win four board seats and change the company's strategy, according to a letter to Anson investors.
“Samir has a history of maximizing shareholder value, and we fully support Sandpiper's plan here,” Moez Kassam, Anson's co-founder and chief investment officer, said in an interview.
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