June 2, 2017 / 12:42 PM / 2 months ago

Hedge fund Marcato Capital Management posts gains in May

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BOSTON, June 2 (Reuters) - Activist hedge fund Marcato Capital Management, which has been battling restaurant chain Buffalo Wild Wings for board seats, reported strong gains in May, which extended its gains for the year.

The firm's flagship fund gained 1.6 percent in May and is up 7.7 percent for the year, while its smaller Encore fund surged 7.5 percent last month to be up 16 percent in the first five months of 2017, an investor in the fund said. The gains came even as Buffalo Wild Wings' stock price dropped in May.

Reporting by Svea Herbst-Bayliss

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