Glenview Capital Management has a unique investment philosophy that sets it apart from other hedge funds. They focus on value investing, targeting undervalued companies with strong fundamentals.
Glenview's approach is centered around identifying and exploiting market inefficiencies, often in companies with complex or misunderstood businesses. They're not afraid to take on companies with significant challenges.
Their investment process involves a thorough analysis of each company's financials, management team, and industry trends. This detailed research helps them make informed decisions and minimize risks.
Glenview's investment team is known for their expertise in analyzing complex financial situations and identifying potential for growth.
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Investment Overview
Glenview Capital Management has a diverse investment portfolio, with holdings in various industries such as healthcare, industrials, consumer services, and technology companies.
In the healthcare sector, Glenview has significant stakes in companies like Health Management Associates and Tenet Healthcare, with a 14.6% and 17.8% ownership, respectively.
Glenview has a history of taking an active role in shaping the direction of its investments, as seen in its efforts to influence the terms of the Dow Chemical and DuPont merger in 2017.
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The firm's investment strategy is focused on arbitrage, event-driven, and directional trading, which allows it to capitalize on various market opportunities.
Here are some key statistics about Glenview's investments:
Glenview's involvement in high-profile mergers and acquisitions, such as the $67 billion Express Scripts deal, demonstrates its ability to navigate complex transactions and drive value for its investors.
Investment Products and Strategies
Glenview's investing strategy is commonly related to Growth at a Reasonable Price or "GARP" and focuses on companies in industries that are predictable and steady, with recurring revenue streams or entrenched market positions.
The firm employs a long/short strategy focused on investments in equity and fixed income securities. Glenview's flagship funds launched in 2001 and have been successful in achieving significant gains.
In 2007, Glenview launched the Glenview Opportunity or "GO" funds which employ an opportunistic investment approach. This strategy allows the firm to capitalize on market fluctuations and make more aggressive investments.
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Glenview manages a range of investment funds, including Glenview Capital Partners, L.P., Glenview Institutional Partners, L.P., Glenview Capital Partners (Cayman), Ltd., Glenview Capital Opportunity Fund, L.P. and Glenview Offshore Opportunity Fund, Ltd.
The Glenview Capital Opportunity Fund saw an impressive 84% gain through October 2013, earning the firm the top spot on the Bloomberg Markets annual ranking of best performing large hedge funds in 2013.
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Investment History
Glenview has a diverse investment portfolio, spanning industries like healthcare, industrials, consumer services, and technology.
In 2013, Glenview held a 14.6% stake in Health Management Associates (HMA) and objected to its merger with Community Health Systems, submitting consents to remove and replace the board of directors.
Glenview's largest shareholder stake was in hospital chain Tenet Healthcare, with a 17.8% stake acquired in 2016.
The company also played a role in the 2017 merger discussions between Dow Chemical and DuPont, pushing for changes to the plan for the combined company, DowDuPont.
In 2018, Glenview declared its support for Cigna's $67 billion acquisition of Express Scripts, urging other investors to do the same.
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Professional Experience
Chris Hohn has been running Glenview Capital Management since 2000, serving as Founder, Portfolio Manager, and CEO.
He has held various leadership positions, including Chairman of Longview, Chairman of the Board at KIPP New York, and Chairman of the Board at UKA Teacher U.
Chris has also been involved with several non-profit organizations, including the Board of Directors at The Robin Hood Foundation, Teach for America New York, and KIPP Infinity.
Additionally, he has served as Senior Chair of the Wall Street Division of the UJA-Federation.
Here are some of the notable publications that have featured or quoted Chris:
- Forbes
- CNBC
- Bloomberg
- Business Insider
- Yahoo! Finance
- Barron's
- Financial Times
- Institutional Investor
Frequently Asked Questions
What is Glenview Capital Management?
Glenview Capital Management is a private investment firm that manages capital for sophisticated investors through various funds. Founded in 2000 by Larry Robbins, the company is headquartered in New York and offers investment management services.
How did Larry Robbins make his money?
Larry Robbins made his money by successfully starting Glenview Capital Management in 2000 and making savvy investments, including a bet on hospital companies that benefited from the Affordable Care Act (Obamacare). His investment strategies have yielded significant returns, establishing him as a prominent figure in the financial industry.
How many children does Larry Robbins have?
Larry Robbins has 4 children. He is a successful hedge fund manager and philanthropist at Glenview Capital Management.
What is the strategy of Glenview Capital?
Glenview Capital's strategy focuses on stable, predictable companies with recurring revenue streams or strong market positions. They invest like owners, seeking growth at a reasonable price in industries with steady growth potential.
What is the track record for Glenview Capital?
Glenview Capital Management LLC has a track record of delivering strong returns, with a 15.43% average return in the last 12 months and 8.08% over the last 3 years. Their impressive performance suggests a skilled investment strategy, but further research is recommended to understand their investment approach and potential risks.
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