NEW YORK, April 17 Billionaire hedge fund
manager Daniel Loeb has canceled plans to speak at an investor
conference in Washington D.C. on Thursday after certain pension
funds threatened to confront him at the event.
Loeb, the founder of New York-based hedge fund Third Point,
was scheduled to speak at the Spring conference of the Council
of Institutional Investors (CII) on Thursday morning.
However, due to growing tensions over his alleged position
on pension funds for teachers, he pulled out on Wednesday
according to a letter reviewed by Reuters.
"I have never taken a position against DB Plans nor has any
philanthropic organization I lead," Loeb said in a letter
addressed to Anne Sheehan, the Chair of CII dated April 17. "In
fact, my support for and contribution to DB Plans is
demonstrated by maximizing returns for union members who rely on
us to deliver their pension goals."
The American Federation of Teachers has taken issue with
Loeb who is involved with an organization they say wants to get
rid of defined benefit plans for teachers.