Argyle had previously opposed Toshiba’s sale of its chip business to a Bain Capital-led group.
Toshiba Memory had in September reaffirmed the company’s plan to go public in two to three years.
Toshiba raised $5.4 billion from a share issue to foreign investors late last year and it had now decided it did not need to go through with the sale.
Hong Kong-based investment fund says Toshiba's $18 billion chip sale is worth double its agreed price
Argyle Street Management, with $1.3 billion under management, has been urging Toshiba to reconsider and opt to list the prized unit instead.