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Alternative Market Briefing

IT holdings drive value of activist hedge fund Jana Partners by $2.2bn

Monday, May 18, 2015

Komfie Manalo, Opalesque Asia:

Activist hedge fund Jana Partners has reported that the value of its U.S. public equity holdings jumped by $2.2bn in Q1 to reach $11.5bn on the back of its investments in information technology companies, reported Bloomberg.

The New York-based firm run by Barry Rosenstein added Ebay and Qualcom in the last quarter. Ebay and Qualcom were the largest positions of the hedge fund firm in Q1. Jana Partners is an event-driven hedge fund that buys stakes in firms and then initiates management to make changes to increase profits.

At the same time, Jana Partners reported in its regulatory filing that it added stakes in firms, including United Rentals Inc., Brookdale Senior Living Inc., Lions Gate Entertainment Corp. and Starwood Hotels & Resorts Worldwide Inc.

Jana partner Charles Penner declined to comment on the company’s latest filing, Bloomberg said.

Early this month, Jana Partners reported that it has invested nearly 40% of its current positions in activist stakes. The report did not provide specifics on those activist stakes.

According to Business Insider, the hedge thinks it has a bright future in pushing CEOs and corporate boards to improve for the better. The report ci......................

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