ESL Investments
ESL Investments is a privately held hedge fund based in Greenwich, Connecticut.ESL Investments is managed by Edward Lampert, who founded it in April 1988 and named it after his initials.[1] ESL is fairly unusual as a hedge fund in that it takes large stakes in a small number of companies and holds them for many years.[3] The revenue from Kmart plays a big part in helping ESL acquire other companies.[8] At the start of the financial crisis of 2007–2010, however, ESL's retail holdings were severely affected due to a drop in consumer spending, and the company's investment in Citigroup in September 2007 saw a significant drop in value since the fund made its investment.