Livermore Exits ETO Investment
Event-driven hedge fund Livermore Partners doubled its investment in Peppa Pig producer Entertainment One. Founder David Neuhauser said:
"At 160P, the equity was disconnected. We still like the story (and love Peppa), but the equity is now "fairly valued" at 320P".
Commenting on Livermore's general outlook, Neuhauser continued:
"We still see opportunity in Europe - more than in the US - though the recent strength of the pound if beginning to show a more balanced viewpoint towards the UK."