FORTUNE -- Presumably, they would be younger and better looking.
Carl Icahn says he is interested in helping to start up other activist funds that invest like him. On Tuesday, speaking at IMN's Active-Passive Investor Summit in New York, Icahn said he would be willing to provide seed money to get a number of funds off the ground.
Icahn said the new funds are needed as corporate boards and their lawyers are making it harder for activist investors to be heard. He also said he was growing tired of drawn out proxy fights, despite threatening a number of them in the past year. And was looking for some younger investors who would take on some of this work. "Storm clouds are coming for activism," says Icahn. "Poison pills are getting worse."
Icahn says he hasn't invested any money in other funds yet, and during the talk he didn't say how much he would invest in other funds. But in an appearance later on CNBC, he said he could see devoting as much as $1 billion to building an army of mini-Icahns.
Icahn said very little about how he would pick the managers, but he did say they would have to be "interested and involved in companies." Icahn also didn't say whether or how the funds might work together on investments. Recently, the SEC has been looking into whether there is a problem with activist investors colluding on deals.
Throughout the speech, Icahn sought to counter the notion that he is a short-term investor, a criticism that is often lobbed at him.
Earlier in the day, another prominent active investor, Jeff Ubben, criticized activist investors for not acting in the best interests of the companies they invest in. As an example, Ubben said his fund bought eBay (EBAY) shares earlier this year, but then exited the position once Carl Icahn's involvement with the company inflated its stock price. Ubben questioned whether Icahn's battles with the company had accomplished anything.
"There's been a lot of coverage of Carl, but not a whole lot of change," says Ubben. "Activists are getting too much credit and not being accountable for their short-term behavior."
But Ubben claimed he wasn't criticizing Icahn. "Not picking on Carl," says Ubben. "He plays with his money, and he's having fun. I hope to do that some day."
eBay stock now trading lower than when Carl Icahn first disclosed stake.
FORTUNE -- Carl Icahn today ended his three-month old feud with eBay Inc. (EBAY), agreeing to withdraw his nominations for two board seats and his insistence that the company sell a minority stake in its PayPal unit back to shareholders (as you may recall, he originally wanted PayPal to be spun out into a separate company).
In exchange, Icahn and MOREDan Primack - Apr 10, 2014 12:11 PM ET
The differing tactics of two activist investors reveal boards with a lack of focus on corporate governance.
By Paul Hodgson
FORTUNE -- Hedge fund activists often have very different strategies from each other, and very different opinions about a company's fortunes. Take William Ackman's shorting of Herbalife (HLF), while at the same time George Soros, Daniel Loeb, and Carl Icahn all took long positions in the stock. But one element underlies most if not MOREMar 31, 2014 5:00 AM ET
Carl Icahn's issue with the online retailer isn't PayPal, but rather the capability and interests of its leadership and board of directors.
By Paul Hodgson
FORTUNE -- If your mother read about it in the Wall Street Journal, would she yell at you about it? That's the governance test used by Icahn Enterprises for the directors of the companies it invests in. The firm believes that the board of directors are MOREMar 21, 2014 5:00 AM ET
It may seem awkward, but is there anything actually wrong with a hedge fund manager bankrolling an all-out assault on a company?
Correction: March 10, 4:45 PM.
FORTUNE -- Bill Ackman really, really wants to prove that Herbalife is a fraud. That's not new. What's new is the lengths he is apparently going to to convince everyone, particularly regulators, that he is right.
On Monday, the New York Times detailed those efforts in MOREStephen Gandel, senior editor - Mar 10, 2014 2:59 PM ET
As it battles Carl Icahn, eBay makes a subtle change to its Skype sale history.
FORTUNE -- Yesterday I took issue with eBay's claim that its 2009 Skype sale was a "competitive process with multiple bidders including several financial and strategic buyers." Namely, because I can't find any evidence that strategic buyers actually submitted bids -- in large part due to litigation risks related to Skype's underlying intellectual property. Instead, the only MOREDan Primack - Mar 4, 2014 12:09 PM ET
Carl Icahn and eBay are locked in a contentious war of words. Unfortunately, they could both use an editor.
FORTUNE -- As you're no doubt aware, Carl Icahn set his sights on eBay Inc. (EBAY) late last month, arguing that the online auction company should spin off its PayPal business. eBay quickly demurred, saying that it had previously considered such a fissure but ultimately concluded that the two businesses are better together MOREDan Primack - Mar 3, 2014 1:53 PM ET
eBay CEO John Donahoe has discussed Carl Icahn with peers like Tim Cook and Michael Dell.
FORTUNE -- Carl Icahn wants eBay (EBAY) to spin off its PayPal subsidiary, arguing last month that separate management would improve the growth for both businesses. eBay management disagrees with Icahn, believing that its marketplace and payments businesses work better together than apart.
But there really are two strategic issues here. One is about eBay's future MOREDan Primack - Feb 18, 2014 4:34 PM ET
The billionaire investor's desire to see eBay spin off its online payment network, PayPal, could very well unlock significant shareholder value.
By Cyrus Sanati
FORTUNE -- Carl Icahn, the billionaire activist investor, has been interested in technology lately. Wednesday, he made several TV appearances to reiterate his call for tech giant Apple (AAPL) to engage in a massive $150 billion share buyback. As usual, he demonstrated that he was willing to MOREJan 23, 2014 3:15 PM ET
Activist wants eBay to spin PayPal off into a separate company.
FORTUNE -- Carl Icahn has his sights set on a Silicon Valley giant, and it isn't Apple (AAPL).
eBay Inc. (EBAY) this afternoon announced that Icahn has nominated two of his employees to its board of directors, and submitted a non-binding proposal to spin PayPal out into a separate business.
Icahn earlier this month acquired a 0.82% stake in eBay, as part MOREDan Primack - Jan 22, 2014 4:23 PM ET
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