August 9, 2019 / 8:55 PM / 14 days ago

UPDATE 1-Hedge fund Elliott hires Goldman Sachs partner Steven Barg -sources

(Adds details on Barg, Elliott)

By Svea Herbst-Bayliss

BOSTON, Aug 9 (Reuters) - Hedge fund Elliott Management has hired Goldman Sachs partner Steven Barg who headed the investment bank's shareholder defense practice, two sources familiar with the move said on Friday.

Goldman Sachs and Elliott did not respond to requests for comment and Barg could not be reached.

Barg is a veteran banker with capital markets experience as well as expertise in advising companies who have faced activist investors. He joined Goldman from UBS in 2010 and was global head of activism and shareholder advisory, working with companies like Sony as they faced pressure from hedge funds.

Elliott, which oversees $35 billion in assets, is considered among the industry's most successful activist investors having waged campaigns at firms including EBay Inc. The firm was founded in 1977 by Paul Singer.

Recently Elliott has expanded its reach into private equity investing by making bids for companies like bookseller Barnes & Noble and Athenahealth.

Elliott has previously hired a banker, Geoffrey Sorbello, who came from Houlihan Lokey, to work on its activist campaigns. (Reporting by Svea Herbst-Bayliss; Editing by Diane Craft)

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