Jana Partners liquidates two hedge funds, to focus only on activism

Jana Partners founder Barry Rosenstein.Andrew Harrer/Bloomberg

NEW YORK — Jana Partners LLC, founded by Barry Rosenstein, is shutting down two stock-picking hedge funds following losses and will focus instead on its main strategy of investing in a handful of companies and pushing management to improve their performance.

The New York-based firm, which managed US$11 billion at its peak in 2015, will liquidate its Jana Partners and Jana Nirvana funds, the firm told its investors in a letter seen by Reuters.

Instead it will focus solely on its Jana Strategic Investment (JSI) fund, which manages US$1.5 billion, and will also launch its Jana Impact Capital fund later this year, which will focus more on social activism.

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