Wednesday, 28 January 2015
Last updated 1 hour ago
Sep 13 2012 | 7:54am ET
Grosvenor Capital Management has seeded a new activist hedge fund.
Engaged Capital said it received $85 million from the Chicago-based firm. Engaged, founded by Relational Investors veteran Glenn Welling, debuted this month.
Engaged said it would focus on small- and mid-cap stocks in North America.
"At the end of 2011, we decided it was time to go out and build a new firm just focused on activism in small- and mid-cap companies, using a more constructive approach to activist investing," Welling told Opalesque. "We see a unique opportunity in the small- to mid-cap market because the most successful activists are now managing $6 billion to $12 billion in assets under management and can't focus on the $500 million to $3 billion market cap companies, where the returns are the highest."
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…