Sears' Lampert Finds a New Foe

In his bid for Restoration Hardware (RSTO Quote), Ed Lampert is butting heads with yet another investment maven.

He acquired Sears Roebuck just weeks after Steve Roth's real estate investment trust, Vornado Realty (VNO Quote), disclosed a 4.3% stake in the retailer in 2004. Later, he clashed with Bill Ackman of Pershing Square Capital in his bid to acquire Sears Canada in its entirety.

Now Lampert, the hedge fund superstar who is also chairman of Sears Holdings (SHLD Quote), is in a battle with Catterton Partners, a consumer-focused private-equity firm based in his own stomping grounds -- Greenwich, Conn. ...