Corvex Takes 7.1% Stake In ARCP, Seeks Board Seat

Keith Meister’s hedge fund firm Corvex Management LP disclosed Monday that it has accumulated a 7.1% stake in beleaguered real-estate investment trust American Realty Capital Properties Inc. The hedge fund firm also disclosed that it had discussions with ARCP’s board to explore additions to the board of their representatives.

Corvex discloses ARCP stake in Schedule 13D

In their Schedule 13D disclosure on Monday, Corvex managing partner Keith Meister disclosed that they believe it would be “beneficial” to add their representatives to ARCP’s board of directors, particularly given the recent high level of personnel turnover at the...