A long-awaited moment is at hand for clients of ESL Investments, Eddie Lampert’s Connecticut-based hedge fund.
That’s because a five-year lockup on the fund that holds a majority stake in Sears’ battered shares is slated to expire this summer.
But sources said Lampert has been reaching out to investors in recent weeks, urging them to stay put.
Lampert in January bought out the Ziff family’s stake in the fund for $130 million, and has nearly doubled his money since.