anthony melchiorre chatham asset management anthony melchiorre chatham asset management

In the last two fiscal years that ended in August, Postmedia booked losses totaling about $40 million in Canadian dollars. Choose your news we will deliver. Seaport Global defended its practices. Offers may be subject to change without notice. What it does, apparently, is make its clients lots of money. Sanjay Wadhwa, deputy director of the SEC's enforcement division, said in a statement that Chatham's trading in AMI bonds had the effect of "increasing the prices of those generally illiquid securities in a way that was disconnected from economic reality. Fortress is owned by the Japanese conglomerate SoftBank. for CHATHAM ASSET MANAGEMENT, LLC, Top 20 equal-weighted holdings. Such wagers have come under increased scrutiny from regulators in the last year. Before long, the Chatham camp would make good on its threat against that executive, unleashing a tale of sex and money worthy of the Enquirer. SEC employees have questioned the firm on subjects including its pricing of bonds and conversations with various bond dealers. They wanted to kill a lawsuit by the former head of another Chatham company. Importantly, the trading occurred more than four years ago in funds that have since been closed. A Chicago-area kid who studied economics at Northwestern and got an MBA from the University of Chicago, his high-toned education didnt reduce the intensity of the former high-school football star. Download 13F Summary email address below and choose 'Submit'. From shortly after the merger to the end of 2018, McClatchys work force was cut from more than 15,000 full-time employees to around 3,300, according to public filings. The Ohio pension system did not respond to questions about whether it will seek to divest assets from Chatham. 130 E. Randolph St. In the newspaper industry, it is typical after an ownership change for the C.E.O. Katherine Burton, Sridhar Natarajan and Shahien Nasiripour, Bloomberg News, National Enquirer tabloid newspapers. Thats exactly what happened. An SEC spokesman declined to comment. Chatham and Melchiorre agreed to pay . Last year, barely three months before Christie left office, his administrationsteeredanother $200 million to another Chatham vehicle. The McClatchy chairman, Kevin S. McClatchy, the great-great-grandson of its founder, has said the companys inability to meet its pension obligations tipped it into bankruptcy. Recent cases brought by the regulator show its trying to ensure that investors have a full and fair understanding of how instruments in the market are being priced.. In April, the company said it had received a Chatham-led bid worth more than $300 million. Its boundaries differed from those of the modern department, however. That made it one of the best performing bonds in the world at the time. Chatham and the Enquirers publisher, David Pecker, had turned to Trumps fixer as a mediator. Necessary cookies are absolutely essential for the website to function properly. Grimstad claimed Chatham artificially drove down the price of the bonds by almost 30% in a single trade, effectively blocking a debt-restructuring effort so it could capture control of the company. Thanks, Tracy. I remember that very well because by then I was hoping for a buyout and asked him, in front of the crowd, if he was planning on offering any. Aiysha Johnson will take the helm of the 13,000-plus member organization following Ralph Albert Thomas' June retirement. Bob Hepburn, a Torstar spokesman, said, Torstar continues to cooperate with the bureau in its investigation.. Fauci says the general public somehow didnt get his messaging that the vulnerable are really, really heavily On Thursday, Lyfts new CEO laid off over 1,000 employees. His behavior infuriated some senior executives, according to former colleagues. Something other than fundamentals are playing a huge factor in those bonds., In response to questions about the prices, Melchiorre sent a statement through a representative: We have tremendous conviction in our fundamental thesis on late stage media consolidation in North America and competitors are free to express opposing views.. Find more info on AllPeople about Anthony Melchiorre and Chatham Asset Management, as well as people who work for similar businesses nearby, colleagues for other branches, and more people with a similar name. The sale was proposed after American Media signed a nonprosecution agreement with federal prosecutors in which it affirmed that it had made a payment to influence the 2016 election. The Christie administrations shift of $500 million into Chatham makes New Jersey retirees a substantial investor in the hedge fund, which manages $3.2 billion in assets, according tostate records. Any McClatchy employees hoping that Chatham might not be as bad as the hedge fund Alden Global Capital, which has decimated the Denver Post and other papers in its stranglehold, should consider this: Chatham is the majority owner of American Media, which owns the tabloid National Enquirer which hardly recommends Chatham as a potential restorer of the 29-paper chain to the newspaper industrys top ranks. Chatham Asset Management, a New Jersey-based hedge fund, and its founder, Anthony Melchiorre, have agreed to pay a $19.3 million fine for tampering with the sale process for bonds of. Postmedia (along with its external counsel) is strongly of the view that there has been no contravention of the Competition Act with respect to this matter, Phyllise Gelfand, a Postmedia spokeswoman, said in a statement. Finra, the brokerage industrys main watchdog, subsequently concluded its review, and its unclear what if anything resulted from it. Postmedia, where Pecker sat on the board until last August, has posted annual losses for most of the past decade. You also have the option to opt-out of these cookies. The investigation remains active, according to an agency representative. No, I dont think hell be visiting the newsroom and talking about Chathams plans for the paper. The next year, Seaport received internal complaints that brokers there agreed to buy bonds from Chatham with the promise the hedge fund would repurchase them at higher prices, according to people with knowledge of the situation. Anthony Ralph Melchiorre is an employee with Chatham Asset Management, LLC, a hedge fund company. Chathams media interests are led by two of its partners, Evan Ratner, a longtime Wall Street investor and a former analyst with Goldman Sachs, and Barry Schwartz, who has specialized in debt investments. NJBIZ, New Jerseys leading business journal, provides 24/7 business news coverage and events honoring top business professionals. Price swings on the trades described in the lawsuit marked the biggest-ever percentage changes in those securities, data reviewed by Bloomberg show. He built his stature as a temperamental money-maker at the white-shoe firm. American Media now owes debtholders in excess of $1 billion, more than the book value of its assets. The private equity fund Fortress Investment Group controls the largest American newspaper chain, Gannett, which publishes USA Today, The Arizona Republic and 250 other dailies. What a perfect synecdoche. The company that is poised to take control of McClatchy and its 29 daily papers doesnt have a website. When completed, an email will be sent to the email address you specify This much is sure: Chatham founder Melchiorre, 51, has a formidable reputation. Postmedia is under investigation by Canadian regulators over a deal with a rival publisher, Torstar, the owner of The Toronto Star, that resulted in the closing of 36 newspapers and the loss of nearly 300 jobs. . Marian Needham, the executive vice president of the NewsGuild, the union that represents employees at some McClatchy newspapers, said in a statement that McClatchy needed to adopt existing collective bargaining agreements. The finance industry is also a key component of the largest American newspaper chain, Gannett, which publishes USA Today, The Arizona Republic and 250 other dailies. Soon after, he crossed the Hudson River to set up his own hedge fund in Chatham, N.J. Mr. Melchiorre manages over $4 billion in assets for clients through various funds, including some listed under a Cayman Islands address, where more favorable tax rates apply. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Chatham engaged in these trades to address portfolio constraints such as industry or issuer fund concentration limits, meet investor redemptions, and allocate capital inflows and outflows. It has made money in an ailing business partly by cutting the number of reporters and editors at The Denver Post and other publications, moves that have angered journalists and press advocates who accuse the firm of diminishing local news coverage. Melchiorre and his. Chatham Asset Management, LLC Anthony Melchiorre Managing Member Dear Mr. Melchiorre, We are writing to follow up on our discussions with regards to your non-binding, conditional indication of interest to acquire R. R. Donnelley & Sons Company. Anthony Melchiorre has an ownership stake in Chatham Asset Management, LLC of between 50% and 75%. Playing tough is the Chatham way. Now he was working on behalf of Chatham Asset Management, a $4.3 billion hedge fund that owns the National Enquirer. Thats because they are losing to him.. Quantifying sustainability the numbers, the data, and the people, Valuing Banks: Hidden Losses Versus Assets, Research for Institutional Money Management, Global Fixed Income: Volatility and Uncertainty Here to Stay, For institutional investors, ETFs can make meeting liquidity needs easier, Gold: the most effective commodity investment, 2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios, Ten ways retirement plan professionals add value to plan sponsors. Chrome Extension. Well, this company, Chatham Asset Management, doesnt do a lot that would make it want to call attention to itself. "We remain vigilant in rooting out such misconduct in the marketplace, including in the fixed income sector, where investments can be less liquid.". Fortune said Melchiorre wasnt a particularly good fit at the firm and irritated some senior executives. Chris Christies administrationmoved$300 millionof pension cash into the Chatham Fund, LP, which hasowneda stake in AMI, according to SEC records. Chatham Asset Management, LLC Anthony Melchiorre Managing Member Dear Mr. Melchiorre, We are writing to follow up on our discussions with regards to your non-binding, conditional indication of interest to acquire R. R. Donnelley & Sons Company. McClatchy did not disclose terms. It was a lucrative move. or to simply have an email sent to you whenever we receive a new Grimstad claimed in filings that Chatham had manipulated iPayment bonds to seize control of the company. Along with the public pension funds, four other private pension fundsincluding those for Ford and Toyota Motors employeeshave had investments with Chatham, according to financial research firm Preqin. Chatham's and Mr. Melchiorre's trading in the AMI bonds accounted for the vast majority of trading in those securities and therefore over time had a material effect on their pricing, according to the SEC. AMI executives helped Cohen purchase stories that could have hurt Trumps presidential bid, according to theWall Street Journal. What a great word! Chatham and Melchiorre consented to the SECs order, without admitting or denying its findings, that they violated Section 206(2) of the Investment Advisers Act of 1940, and that they aided and abetted and caused violations of the Investment Company Act of 1940. Even before the pandemic, Postmedia saw a falloff in advertising, once the lifeblood of newspapers. 6LinkedIn 8 Email Updates. Despite the companys financial distress, its bonds traded near par until December, and after dropping, have been climbing back. Melchiorre, 55, owned roughly 70 percent of the company during the relevant period and is the managing member of the general partner entity for each of the funds. The hedge fund is run by Anthony Melchiorre, a GOP donor who reportedly met with the president and AMI CEO David Pecker at the White House soon after Trump took office. Im always for local ownership whenever possible, and local support, said Sree Sreenivasan, professor of digital innovation at Stony Brook Universitys School of Journalism, sounding a note of caution regarding finance-industry ownership. McClatchy, the publisher of The Miami Herald, The Kansas City Star, The Charlotte Observer and its flagship publication, The Sacramento Bee, filed for Chapter 11 bankruptcy protection in February. Ive received well over six figures since retiring in 2006, and I could get another six, if I live long enough and if the PBGC either makes McClatchy pay up or picks up at least two-thirds of the companys pension responsibilities. Sign-up AMI gave$10,000 to a super PACsupporting Christies 2016 presidential bid, and Mother Jones reported that ChristieplacedPecker on his campaign leadership team. Anthony Melchiorre, Chatham Asset Management, LLC: Profile and Biography - Bloomberg Markets Bloomberg Terminal Demo Request Bloomberg Connecting decision makers to a dynamic network of. Michael Eisner came to the newsroom. After Grimstad filed his suit, the Chatham camp countered, claiming Grimstad had used company money to pay a Las Vegas escort $4,000 for sexual activities and later hired her and her mother. Hes a street fighter, said Mike Rankowitz, his boss at Morgan Stanley. Sad. Donnelley to $10.85 Per Share in Cash. But Mr. MacLeod, the chief executive, acknowledged complaints about the cuts. Since Chatham took a majority stake in Postmedia, the company has cut its work force, shuttered papers across Canada, reduced salaries and benefits, and centralized editorial operations in a way that has made parts of its 106 newspapers into clones of one another. When Knight Ridder bought The Star and three other Disney-owned papers in 1997, Im pretty sure Knight Ridder C.E.O. Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter. The company regrets any distress that may have been caused to the Grimstads by the public filing of the litigation against them, Chatham-controlled iPayment said at the time. In 2018, Canadas Competition Bureau, a law enforcement agency that oversees commerce, opened an investigation into the transaction for possible anticompetitive conduct and has searched the offices of both Postmedia and Torstar. That money was part of a deal the company had struck with Karen McDougal, a Playboy model who said she had an affair with Donald J. Trump. Chatham Asset Management . Chatham and the Enquirer 's publisher, David Pecker, had turned to. The company did not immediately return NJBIZs request for comment about Chathams letter of interest. Your California Privacy Rights/Privacy Policy. The 2016 presidential campaign had just ended, and Michael Cohen was fresh off handling hush money for Donald Trump. Sue, Chatham lawyers warned, and well drag your family into this, according to court testimony. At least one executive - the one Cohen and Pecker sparred with -- has accused the New Jersey firm of market manipulation. Chatham is led by Anthony Melchiorre, a Chicago-area native who once worked at Morgan Stanley, where he led the junk bond division. Despite the macroeconomic warnings of a recession and job[], A Cherry Hill-based financial institution is back on top of Small Business Administration lenders in New Jerse[]. The New York Post put the story on its front page under the headline Frisky Business. (Grimstad has called those allegations false and meritless.). The notes dont pay regular interest in cash, a sign of their inherent riskiness. Chatham Asset Management provides investment advisory services. Chatham took on more American Media debt in recent months, getting Seaport to arrange a deal after Credit Suisse Group AG got cold feet amid public furor over the publishers antics in the 2016 presidential election. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Revenue has dropped an average of 10 percent a year since 2016. The information you requested is not available at this time, please check back again soon. Fast Company & Inc 2023 Mansueto Ventures, LLC, State pension funds invested millions in hedge fund that controls National Enquirer parent. Chatham Asset Management is based out of Chatham. A bankruptcy court hearing on the matter is scheduled for July 24. A March 2019 Fortune magazine story said Melchiorre, who is either 51 or 52, was raised in Chicago, studied economics at Northwestern and got an MBA from the University of Chicago. Chatham, which manages about $4 billion in assets on behalf of its clients, is expected to become the majority owner in the third quarter of the year, McClatchy said, and the publicly traded. Chatham Asset Management is a hedge fund with 13 clients and discretionary assets under management (AUM) of $8,608,297,054 (Form ADV from 2022-03-30). Snap CEO Evan Spiegel wiped out over $10 million in student loans for an entire graduating class. It declined to comment further. The firm and its founder, Anthony Melchiorre, have a reputation for hard-edged business. Sign up for your daily digest of New Jersey News. CHATHAM ASSET HIGH YIELD OFFSHORE FUND, LTD. CHATHAM ASSET PARTNERS HIGH YIELD FUND, L.P. I cannot talk on behalf of the entire SIC, but I will be doing everything in my power to convince a majority to vote the same way.. (The answer was no, and I retired on June 30, three days after the McClatchy deal closed.). AMI represents a large portion of Chathams portfolio. The firms assets have doubled in the past three years. This post has been updated with additional information from Calpers and the Ohio pension system. The SECs order finds that, from 2016 through 2018, one Chatham-advised client sold certain American Media, Inc. (AMI) bonds while a different Chatham-advised client purchased the same bonds through various broker-dealers. CHATHAM, N.J., Sept. 1, 2021 /PRNewswire/ -- Chatham Asset Management, LLC (" Chatham "), a private investment firm which manages funds that beneficially own approximately 14.9% of the. In an April 3 announcement, the Securities and Exchange Commission said that Chatham Asset Management LLC and founder Anthony Melchiorre agreed to pay more than $19.3 million in combined . Chatham investment firm moves to acquire Vericast for $2.85B. Hedge fund manager Chatham Asset Management and founder Anthony Melchiorre agreed to pay $19.4 million to settle Securities and Exchange Commission charges that the firm improperly traded fixed-income securities, the SEC announced Monday. for Q1 2022: commodity pool operator or commodity trading advisor, Percentage of assets under management,Performance-based fees, CHIEF OPERATING OFFICER/CHIEF COMPLIANCE OFFICER, MEMBER/CHIEF OPERATING OFFICER/CHIEF COMPLIANCE OFFICER, MEMBER/CHIEF FINANCIAL OFFICER/CHIEF COMPLIANCE OFFICER, LIMITED PARTNER CHATHAM ASSET PARTNERS, LP, MANAGING MEMBER CHATHAM ASSET PARTNERS GP II, LLC, CHATHAM ASSET PRIVATE DEBT AND STRATEGIC CAPITAL FUND III, LP, CHATHAM ASSET PRIVATE DEBT AND STRATEGIC CAPITAL OFFSHORE FUND III, LP, CHATHAM ASSET PRIVATE DEBT AND STRATEGIC CAPITAL FUND, LP, Other Private Fund HYBRID DEBT AND STRATEGIC CAPITAL FUND. Photographer: Luke Sharrett/Bloomberg Chatham has been restructuring their debt to give them more time. AMIhas deniedit helped Trumps campaign, although Pecker was recently granted immunity as part of the Cohen probe. A New Jersey Treasury Department spokesperson said in an email that its Division of Investment is in regular contact with its investment partners regarding underlying portfolio companies and provides feedback when appropriate. From 2004 to 2019, roughly half of all newspaper jobs in the United States were eliminated, according to a University of North Carolina study. In all three cases, Chatham bought most of the subordinated bonds, plus stock. divided by the total MV of the fund. As a subscriber, you have 10 gift articles to give each month. The California state pension system has been planning to exit all of its hedge fund investments and has been asking Chatham to sell holdings so it can return about $200 million. The threat was blunt: Back off, or there will be trouble. Anthony is Managing Member/Portfolio Manager and has served as Managing Member/Portfolio Manager since 09/01/2003. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Were not even covering some City Hall things, which we miss., Postmedia said in a statement that it did not share specific numbers on staffing. Chatham hasnt been accused of wrongdoing by authorities, and the fund had no comment on its interactions with federal inspectors. The merger took place in November 2017, about a year after Chatham took majority ownership. During the last five years, taxpayers in New Jersey, Ohio and California have owned large financial stakes in the owner of the media company that allegedly helped the Trump campaign bury negative stories, according to documents reviewed by Capital & Main and MapLight. They are scrappy, and they arent afraid of litigation to defend their investments, said Leon Cooperman, a recently retired hedge fund mogul who is a Chatham investor and part owner of American Media, the Enquirers publisher. And your word synedoche drove me to the online dictionary. Whalewisdom has at least 9 13F filings, 19 13D filings, 29 13G filings, and 127 Form 4 filings. In addition to being a principal owner of American Media Inc., the parent company of The Enquirer and other tabloids, it is a major investor in Postmedia, the publisher of Canadian newspapers including The National Post, The Montreal Gazette and The Ottawa Citizen. Wall Streets main regulator has been looking into opaque markets since the financial crisis, uncovering a wide swath of bad behavior from lying salespeople to bogus quotes from brokers. Following the successful launch of its Newport Centre location last fall, the brand recently unveiled its newest restaurant d[], JLL secured a long-term lease for 3,400 square feet for Rubinstein Plastic Surgery Center LLC, a cosmetic surgery practice, m[], The CEO of Toorak Capital Partners offers an analysis of the current residential real estate market, the [], Video Replay: NJBIZ Leaders In Digital Technology 2023, Congratulations to the 2023 NJBIZ Leaders in Law honorees (updated), Introducing NJBIZ Connect Your Guide to New Jersey Businesses, NJBIZ unveils 2023 Leaders in Finance Lifetime Achievement Honoree, Introducing the 2023 NJBIZ Leaders in Finance honorees (updated). Still, Chatham can elect one-third of Postmedias board, and it has debt covenants that give it huge sway over its long-term plans. At least five other traders whove looked at the bonds say their prices seem too good to be true. Chatham and Melchiorre agreed to pay more than $19.3 million in combined disgorgement, prejudgment interest, and civil penalties to settle the charges. Washington, D.C.--(Newsfile Corp. - April 3, 2023) - The Securities and Exchange Commission today charged New Jersey-based Chatham Asset Management LLC and its founder, Anthony Melchiorre, in . I would bet, in fact, that not one Star employee not even president-publisher-secretary and head of security Mike Fannin will ever see him. In October 2016, a New Jersey hedge fund assumed ownership of Canadas largest newspaper chain with very little fanfare. Seaport Global defended its practices. From 2016 through 2018, one Chatham-advised client sold certain American Media Inc. bonds while a different Chatham-advised client purchased the same bonds through various broker-dealers, according to the SEC. Before long, the Chatham camp would make good on its threat against that executive, unleashing a tale of sex and money worthy of the Enquirer. We are deeply concerned that this venerable newspaper chain which has won 54 Pulitzer Prizes will now transfer to the ownership of a hedge fund more known for its drive to maximize profits than for its commitment to producing quality journalism, said Ms. Needham, who is a member of the committee of unsecured creditors in McClatchys bankruptcy case. Sue, Chatham lawyers warned, and well drag your family into this, according to court testimony. Chathams trading has drawn scrutiny before. Wall Streets main regulator has been looking into opaque markets since the financial crisis, uncovering a wide swath of bad behavior from lying salespeople to bogus quotes from brokers. There are people who dont like him. Torstar closed all but four of the 17 papers it had received. I think Ill go to Egypt, Brazil and Africa before my $891.23 monthly pension check stops coming. Another McClatchy creditor, the New York hedge fund Brigade Capital Management, was named in a public filing as a partner of Chatham in the April bid. "As our order finds, Chathams trading in AMI bonds had the effect of increasing the prices of those generally illiquid securities in a way that was disconnected from economic reality," said Sanjay Wadhwa, Deputy Director of the SECs Division of Enforcement. Apr 3, 2023 11:40 AM PDT. During the Relevant Period, Melchiorre owned approximately 70 percent of Chatham, and is the managing member of the general partner entity for each of the Funds. Despite the companys financial distress, its bonds traded near par until December, and after dropping, have been climbing back. Chatham, an investor in the company since 2009, is its largest creditor. Posted in Uncategorized | 5 Comments. In that same period, the editorial ranks at The National Post, its flagship paper, have been reduced by about a third, according to three of the people. Chatham owns the majority of Postmedia shares and the debt, but because of a Canadian law that limits non-Canadian control of media properties, it cannot exercise full control over the business. In all three cases, Chatham bought most of the subordinated bonds, plus stock. The Securities and Exchange Commission has stepped up examinations of various bond funds lately, inquiring about their relationships with brokers and how they value debt. Apr 3, 2023. The SECs investigation was conducted by Daphne Downes, Brian Fitzpatrick, and Lindsay S. Moilanen, with assistance from Carina Chambarry and Raymond Wolff of the SECs Division of Economic and Risk Analysis. Chatham Asset Management and its founder, Anthony Melchiorre, have agreed to settle charges they violated U.S. laws designed to protect investors when they bought and sold bonds in. There, they tried to prevent him from pursuing a lawsuit accusing Chatham-backed iPayment and its board member Pecker of ousting him unfairly. Named after the leafy suburb where its based, Chatham has posted average annual returns of about 10 percent, trouncing many of its competitors. Grimstad knows what its like to be under a tabloid-like glare. Cohens assignment: Get Carl Grimstad, the recently fired CEO of payments processor iPayment Holdings, to the table. 13 Beds 11 Baths 5920 sqft. Now he was working on behalf of Chatham Asset Management, a $4.3 billion hedge fund that owns the National Enquirer. Its pretty frustrating, said Brian Gibson, the president of the local union that represents 140 members of the editorial staff at Postmedias Vancouver papers. Which is concerning., Under Hedge Fund Set to Own McClatchy, Canadian Newspapers Endured Big Cuts, https://www.nytimes.com/2020/07/16/business/media/hedge-fund-chatham-mcclatchy-postmedia-newspapers.html. Chatham itself has been undergoing its first ever exam by the SECs inspections division, according to people familiar with the 16-year-old firm. Moreover, the SEC found that Chatham and Mr. Melchiorre calculated the net asset values of their client funds' holdings using pricing data that was based, in part, on the trading prices of the securities. Chicago, IL 60601, Court backs SEC in lawsuit challenging proxy-rule rescission, Labor Department addresses FAQs for multiemployer pension plans receiving SFA, U.S. regulators propose strengthening oversight of non-banks, Sponsored Content: EDHEC Climate and Finance Special, The Institutional Investors Guide to ESG Investing, The Plan Sponsor's Guide to Retirement Income, 2023 Defined Contribution East Conference, SEC's rules moving too fast, industry says, SEC proposes requiring electronic submissions for nearly all forms, SEC seeks $2.4 billion in funding to boost staff numbers. In all, the two companies closed 36 of the 41 newspapers that were part of the unusual deal, resulting in 291 job losses. Subscribe for access to the latest digital and special editions. This category only includes cookies that ensures basic functionalities and security features of the website. In the fall, Alden took a 32 percent stake in Tribune Publishing, the owner of The Chicago Tribune and several other major papers. The companys main office is on the second floor of a nondescript, two-story office building in Chatham, NJ, 28 miles west of the Manhattan skyscrapers. 2023 Fortune Media IP Limited. Start Free Trial . Its bonds rarely change hands. Performance Long-term clients include the state pension fund of Chathams home state, New Jersey.