Shareholder Activism Defense: How Closed-End Funds Should Prepare for Shareholder Activism

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Wednesday, March 3, 2021
12:00 PM - 01:30 PM Eastern Standard Time

Shareholder activism at SEC-registered closed-end investment funds was up noticeably in 2020, with closed-end funds experiencing more activist campaigns and proxy contests than in any other year between 2008 and 2020.

With the expectation that closed-end funds will remain attractive targets for activist investors, we invite you to join us for a timely panel discussion on how closed-end funds should prepare for shareholder activism. Our panel will discuss several front-of-mind topics for closed-end funds concerned with being in the crosshairs of an activist investor, including:

  • Recent trends in shareholder activism against closed-end funds
  • How shareholder activism at closed-end funds differs from shareholder activism at operating companies
  • Why an activist investor would target a closed-end fund
  • Possible activist investor demands with respect to closed-end funds
  • What makes a closed-end fund vulnerable to an activist investor
  • Steps a closed-end fund can take now to prepare for an activist investor


  • Roger P. Joseph | Partner, Morgan Lewis


  • Bruce H. Goldfarb | President and Chief Executive Officer, Okapi Partners LLC
  • Keith E. Gottfried | Partner and Shareholder Activism Defense Leader, Morgan Lewis
  • Jeremy R. Jacobs | Managing Director, Abernathy MacGregor
  • Alan H. Oshiki | Executive Vice President, Abernathy MacGregor
  • Toby R. Serkin | Partner, Morgan Lewis

CLE credit: CLE credit in CA, IL, NY, PA, TX, and VA is currently pending approval. CLE credit in CT, FL, and NJ is pending approval via reciprocity.