Goldman Sachs has invited its large trading clients, including hedge funds, to a meeting with SoftBank Chairman and Chief Executive Masayoshi Son in the coming weeks, which is raising eyebrows, The Post has learned.
Goldman’s securities division, which boasts of “bringing buyers and sellers together,” sent out a vague email this month inviting its large trader clients to a March 2 “group meeting” with Son, according to a copy of the email obtained by The Post.
The invite contains zero explanation about what might be discussed. Even the midtown Manhattan location is “TBC,” or to be confirmed.
That has hedgies wagging their tongues that Son — known for a troubled investment in office rental company WeWork — is desperate for help beating back Paul Singer’s hedge fund Elliott Management, which last week said it has amassed more than a $2.5 billion stake in the Japanese conglomerate in hopes of raising the stock price.
Hedge fund sources recalled that Son has not been shy in the past about wanting to steer clear of hedge funds, which veer toward short-term trades. Son, by contrast, has boasted that SoftBank has a 300-year plan.
At a similar meet-and-greet in San Francisco in 2012, when Son was trying to win shareholder votes to buy Clearwire, the CEO “spent a good portion of the meeting saying he didn’t like to meet hedge funds,” one source said.
“I’d be hard-pressed to see anyone supporting Masa,” the hedge fund manager added, referring to any impending battle. This is due to hedgies’ interest in riding potential gains, not Son’s comments, this person added. Goldman and SoftBank both declined to comment.