Has Sam Been Minding The Store?
In "Has Sam been minding the store?" (Finance, Nov. 13), which examined the performance of some of Sam Zell's investments, BUSINESS WEEK reported that "investors in the Zell/Chilmark Fund shifted management control away from [David] Schulte to a Zell-led group." We did not mean to imply that the change in control was instigated by the fund's limited partners. Rather, it grew out of private discussions between general partners Zell and Schulte. Their decision was announced to the fund's other investors at the annual meeting on Oct. 19. No vote on the change in control was required, and none was taken.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.