Activist investor Carl Icahn’s investment fund estimated that the value of its assets has declined, as its octogenarian backer reiterated his commitment to activism as an investment strategy.
Icahn Enterprises LP said on Wednesday its net asset value was estimated to be $4.76 billion as of end of last year, a $411 million decrease compared to the previous quarter, as the investment fund underperformed and returned capital to shareholders, according to a statement.
IEP also named Andrew Teno — a portfolio manager at IEP subsidiary Icahn Capital and board member of Southwest Gas Holdings Inc. and Illumina Inc. ...
