MOVES-Elliott hires Isaac Kim from Golden Gate-sources

Tue Oct 20, 2015 6:39pm EDT
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By Liana B. Baker and Michael Flaherty

Oct 20 (Reuters) - Elliott Management Corp has hired Isaac Kim, previously a principal at private equity firm Golden Gate Capital, as the hedge fund management firm expands its capability to lead leveraged buyouts of technology companies, according to people familiar with the matter.

The hire shows how Elliott has been diversifying beyond its activist investor role and is now participating more in taking companies private.

Last month, it sought a private equity partner to acquire CDK Global Inc, a Hoffman Estates, Illinois-based provider of software to car dealers with a $7.8 billion market value, people familiar with the matter told Reuters.

Kim will be based in San Francisco and report to Elliott senior portfolio manager Jesse Cohn, who heads its U.S. equity activism practice, the people said.

Golden Gate Capital has worked on deals with Elliott before, including the $6.9 billion acquisition of business software maker BMC Software Inc in 2013. Founded in 1977, Elliott has more than $27 billion of assets under management.

Elliott declined to comment. Kim could not be immediately reached for comment. (Reporting by Liana B. Baker in San Francisco and Michael Flaherty in New York; Editing by Bill Rigby)