Thursday, March 20, 2014 3:22:54 PM
Sheldon Inwentash (Pinetree) may have ulterior motives for making small purchases to support the price of a thinly traded stock. He gets 10% of the increase in value of Pinetree each year and Pinetree owns shares in Sphere.
Pinetree Capital, an investment fund with a portfolio worth $794 million, paid its CEO Sheldon Inwentash $34.6 million in 2010. By comparison, the CEO of BlackRock, Larry Fink, made $23 million last year, making him the highest paid Wall Street CEO in 2010. Pinetree Capital is tiny compared to BlackRock...
...Before 2010, he was entitled to 10% of the company’s “realized per-tax profit,” according to the Financial Post. Now he gets 10% of the firm's growth...
...Usually asset managers take around 20% of the firm's profits. The way Inwentash's new structure works, it's as if new asset growth is counted as profit.
http://www.canada.com/nationalpost/financialpost/story.html?id=925bedad-5df6-41c7-8e49-5cd6243b63bf
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