|
Komfie Manalo, Opalesque Asia: Neuberger Berman’s unit Dyal Capital Partners bought a 20% stake in activist hedge fund firm Jana Partners worth $2bn, WSJ.com reports.
The deal comes as activist firms are having more success establishing themselves as institutions that reliably attract funds from big investors, said MarketWatch. Activists have been attracting large flows of money in recent years as their performance has outpaced other hedge funds, though both groups trailed the broader S&P 500 last year.
Such purchases are becoming more common in the hedge-fund world, with firms including Blackstone Group LP and KKR & Co. snapping up stakes using either their own money or their clients’, says The Journal.
Jana Partners, which was founded by Barry Rosenstein in 2001, manages about $11bn and focuses in event-driven strategies and buying stakes in companies with the aim of management changes to improve profits. The firm has five partners including Rosenstein, who owns between 25 and 49.9% of the firm, according to Bloomberg.
Dyal Capital, a New York-based private-equity business, will take a passive interest...................... To view our full article Click here
|
|