The new board will look at internal and external candidates to replace Neidorff, the company said. On the Ground, Its More Complicated. A crafty but controversial corporate stratagem to counter activist investors will get an early test on Tuesday in Delaware Chancery Court, when both hedge fund Politan Capital Management LP and . . That Is the Question The industry leader for online information for tax, accounting and finance professionals. This is a situation that should settle, but if this does go to a proxy fight, we expect that Politan will prevail. Newly-launched hedge fund Politan Capital Management has purchased a $900 million stake in Centene Corp., the St. Louis-based insurer confirmed Wednesday. Historically, he has partnered with experienced industry operators as board candidates (i.e., CoreLogic Bill Foley, Lowe's David Batchelder) and in this situation he has brought in Kenneth Burdick and Wayne DeVeydt. Subscribe to WhaleWisdom to view all filing data Advance-notice bylaws are nothing new. On Nov. 3, 2021, the Wall Street Journal reported that Politan Capital took a stake in Centene. Date Filing Type Reported Sold Incremental Cash Type Exemptions Link to Raw Filing; 2022-09-16 Amended: Politan's style is to amicably and quietly work with management to achieve its objectives. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. This is the complete list of all insitutional investors and hedge funds that have filed an SC 13D with the Securities and Exchange Commission (SEC) within the last 12 months. Open Menu Close Menu . Many of these companies have seen their value fall sharply, are still in the development stage, have unproven management teams with little public-company experience, and have boards of directors who are unfamiliar with the nature of fiduciary duties and corporate governance at public companies. Whalewisdom has at least 4 13F filings, and 3 13D filings. The Company's current operating status is Active Company Info DOS ID: 6283541 Current Entity Name: POLITAN CAPITAL PARTNERS L.P. Incorpration Date: 2021-09-17 Company Status: Active Entity Type: Companies that realize this will be well positioned to defend themselves next year; those who dont, wont. Their last reported 13F filing for Q3 2022 included $1,661,104,000 in managed 13F securities and a top 10 holdings concentration of 100.0%. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Cryptopolitan - #crypto #AlphaMaven All Jeans + Pants 25% off! [2]: Bored Ape whale splurges nearly $1 Million on Rare DeGods NFTs . Politan asserts that the bylaw contravenes Delaware law by entrenching Masimos management and interfering with shareholders right to vote for directors. Ken Squire is the founder and president of 13D Monitor, an institutional research service on shareholder activism, and the founder and portfolio manager of the 13D Activist Fund, a mutual fund that invests in a portfolio of activist 13D investments. Microsoft and partners may be compensated if you purchase something through recommended links in . The Masimo bylaw, as my Reuters colleague Svea Herbst-Bayliss has reported, has engendered quite a bit of debate among corporate governance experts. Documents and information concerning Politans investors and financial backers are directly relevant to the claims and defenses at issue, Masimo said. Nicholas H. Politan, Jr. is a partner in the New York office of Gibson, Dunn & Crutcher and Co-Chair of Gibson Dunn's Energy (Power and Renewables) Practice Group. Fund AUM and Sold ($) 900 720 540 360 180 0 2011 2015 2019 2023. for Q3 2022: Percentage of assets under management,Performance-based fees, MANAGING PARTNER, CHIEF INVESTMENT OFFICER, AND CHIEF COMPLIANCE OFFICER | LIMITED PARTNER, PORTFOLIO MANAGER AND CHIEF COMPLIANCE OFFICER, MANAGING MEMBER POLITAN CAPITAL MANAGEMENT GP, LLC. How do I update this listing? You are limited to the prior 8 quarters of 13F filings. Politan Capital Management is a hedge fund with 3 clients and discretionary assets under management (AUM) of $1,172,004,771 (Form ADV from 2022-07-25). Masimos bylaws eliminate stockholders ability to nominate directors and restrict stockholder voting to only those candidates selected by the incumbents. Morgan Stanley & Co LLC, First Republic Securities Company LLC. {"search": "/search", "clicked": "/clicked", "portfolio_add": "/portfolio-add", "portfolio_remove": "/portfolio-remove", "portfolio_create": "/portfolio-create", "portfolio_activate": "/portfolio-activate", "portfolio_delete": "/portfolio-delete", "portfolio_rename": "/portfolio-rename", "portfolio_color": "/portfolio-color", "home_filter": "/home-filter", "htmlspeed": "/htmlspeed", "add_tag_firm": "/add-tag-firm", "add_tag_click": "/add-tag-click", "copy_aum": "/copy-aum", "stripe_checkout": "/stripe-checkout", "update_card": "/update-card"}, {"uid": 48314412, "pid": -1, "pid_a": [], "name": "", "email": "", "blacklist_f": false, "paywall_f": false, "paywall_n": 0, "random_n": 0}, Morgan Stanley & Co LLC, First Republic Securities Company LLC. Politan Capital is located in Great Neck, New York. our Subscriber Agreement and by copyright law. Morsa Images | DigitalVision | Getty Images, Morgan Stanley's Q4 results show the Club holding is firing on all cylinders, as the stock soars. Distribution and use of this material are governed by Politan Capital Management LP, . SEC form, multiple filers or classes of filers, and much more.***. But it could affect corporations' ability to scare off activist hedge funds merely with the threat of unmasking backers through discovery demands. An activist investor has a big stake in Masimo Corp. and plans to push the medical-device company to take action to improve its stock price following a poorly received acquisition, according to people familiar with the matter. This copy is for your personal, non-commercial use only. Carl Icahn: Icahn Carl C. Seth Klarman's: Baupost Group. (if applicable) for The Wall Street Journal. Industry: Pooled Investment Fund (See others in industry) Address: C/O Schulte Roth & Zabel Llp 919 Third Avenue, Suite 2300 New York, NY, 10022 Phone: 212-756-2000 . Get the latest business insights from Dun & Bradstreet. All Rights Reserved. The discovery fight that Cook will oversee at Tuesdays hearing will determine whether Masimos lawyers get an early look at the very information its advance bylaw would require Politan to disclose. for POLITAN CAPITAL MANAGEMENT LP, Top 20 equal-weighted holdings. We act innovatively and think ahead. If Politan prevails, boards at other companies could see their advance-notice bylaws which are generally far less strict thrown out under similar legal scrutiny. As sure as the seasons would turn, proposals would begin to appear around the holidays, voting would follow in the spring, and proxy contests would be over by the start of the summer. Politan had held discussions with the St. Louis-headquartered company to push for new board members to be added. Stock Market Value: $44.2B ($75.86 per share). Not long ago, companies could reliably project when shareholder activists would strike and ready their defenses in advance. Data is a real-time snapshot *Data is delayed at least 15 minutes. Hotels near Zeithain Station, Riesa on Tripadvisor: Find traveler reviews, 575 candid photos, and prices for 614 hotels near Zeithain Station in Riesa, Germany. ", View source version on businesswire.com: https://www.businesswire.com/news/home/20221021005274/en/, Media Dan Zacchei / Joe GermaniLongacre Square Partnersdzacchei@longacresquare.com / jgermani@longacresquare.com, Bylaw Amendments, in effect, preemptively block stockholders from nominating candidates for election to the Board, https://www.businesswire.com/news/home/20221021005274/en/, J.B. Hunt's results miss estimates on intermodal weakness, high driver pay, Davos 2023: Convert offices to homes to curb housing crisis-panel, Aviation Capital latest lessor to doubt Airbus, Boeing targets, UPDATE 1-Argentina to buy back $1 bln in overseas debt, economy minister says, Morgan Stanley promotes 184 executives to role of managing directors. Before joining Reuters, she was a writer and editor at The American Lawyer. They are obvious choices to add to the board and with five spots up this year on the company's Board, we expect Politan to name two additional and likely diverse nominees. Customer Service. Percentage Ownership: 8.4%. GREAT RESOURCES - STRONG PARTNER. An operator or ISP must account for 3% or more of total test samples in the market to be on this list. The suit is in response to amendments to Masimos bylaws that the Company adopted on September 9, 2022 (the "Bylaw Amendments") one week after its only meeting with Politan at which time the Board also instituted a stockholder rights agreement (commonly known as a poison pill). . 801-122191 Form of Organization Limited Partnership Legal Domicile DE, United States Registration SEC Contact Details Phone 000-000-0000 Its lead director is 87 years old, has also served on the board for 25 years and has been lead director that entire time (versus an average lead director's tenure of four years for S&P 500 companies). Over half the board has a tenure of over 15 years (versus 1% of all S&P 500 directors). Hes going to have a lot to think about on Tuesday. Dover, DE 19904. NEW YORK, October 21, 2022--Politan Capital Management (together with its affiliates, "Politan"), an 8.8% stockholder of Masimo Corporation ("Masimo" or the "Company") (NASDAQ: MASI), filed a lawsuit in the Court of Chancery of the State of Delaware today against the Company and its Board of Directors (the "Board"). Bumpitrage: As Activists Increasingly Attack Deals, How Can Companies Prepare? Politan Capital Partners LP. These plans are highly sensitive intellectual property, and prior non-public engagements are typically subject to confidentiality agreements. A case presently before the Delaware Court of Chancery challenging a corporation's advance notice bylaw amendments, initiated by activist investor Politan Capital Management LP in October 2022, [1] brings to mind the storied Icarus. De-SPACtivism: Can De-SPACed Companies Fight Back? Enter your details below. 2023 CNBC LLC. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Two of the incoming directors were proposed by Politan, a new firm founded by veteran investor Quentin Koffey. Hedge Fund Any after-the-fact revelation of the identity of Politans backers, the fund said, is irrelevant. Business: Centene operates as a multi-national health-care enterprise that provides programs and services to under-insured and uninsured individuals in the United States. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. Sign In. For this reason, activists with ESG-related ambitions will be thinking more about the economic arguments in their proposals, and crafting them to ensure that the sustainability reforms they advance stay focused on the bottom line. You can read more about your cookie choices at our privacy policyhere. Politan Capital Management is an investment firm founded by Quentin Koffey. All text and design is copyright 2020 WhaleWisdom.com. If Delaware courts bless Masimos tactic, Politan predicted in its complaint, scores of other companies can be expected to rush to adopt similar, or identical, advance notice bylaws, thereby, in Politans view, subverting shareholders right to elect dissident directors. Filings. Names of any stockholders who have expressed any support for the nominations (not just financial support). Centene is hired by states, and it works to improve the quality of care for Medicaid beneficiaries, as well as those of other government programs. 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BOSTON, Dec 14 (Reuters) - Centene Corp (CNC.N) reached a deal with activist investment firm Politan Capital Management in which five new directors will join the managed care company's board. and a top 10 holdings concentration of 100.0%. Politan, which owns an 8.9% stake in Masimo and is run by Quentin . Politan Capital has large stake in Masimo August 16, 2022 - Activist investor Politan Capital Management LP has a 9% stake in Masimo worth roughly $750 million, and "plans to push the medical-device company to improve its stock price following a poorly received acquisition," according to a report from The Wall Street Journal. POLITAN CAPITAL PARTNERS GP LLC Company Number 6105323 Incorporation Date 22 July 2021 (over 1 year ago) Company Type Domestic Limited Liability Company Jurisdiction Delaware (US) Registered Address. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. They do not send angry public letters, and they do not seek proxy fights. Customer Service. https://www.politanmgmt.com/ Politan Capital Management LP c/o Schulte Roth & Zabel LLP 919 Third Avenue, Suite 2300 New York, New York 10022 646-690-2830 With a copy to: Richard M. Brand Cadwalader, Wickersham & Taft LLP 200 Liberty Street New York, NY 10281 212-504-6000 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) But those of Masimo Corp., the global medical technology company, are stronger than most. Alison Frankel has covered high-stakes commercial litigation as a columnist for Reuters since 2011. Politan Capital Management, a hedge fund with nearly a $900 million stake in Centene, is pressuring the company to replace several board members, The Wall Street Journal reported Nov. 3. Masimo, broadly speaking, insists that Delaware courts must uphold corporations discretion to require disclosures from would-be board members who may have ulterior motives. Politan Capital Management LP c/o Schulte Roth & Zabel LLP 919 Third Avenue, Suite 2300 New York, New York 10022 646-690-2830 With a copy to: Richard M. Brand Cadwalader, Wickersham & Taft LLP. Badlapur is a small town located in the Politan Gion of Maharashtra. POLITAN CAPITAL PARTNERS L.P. (DOS ID: 6283541) was incorporated on 2021-09-17 in New York. This is a board that is desperately in need of refreshment the average tenure of the current Board is 11 years and the average age of the directors is 70 (both would be higher but for the new directors added only because of the WellCare merger). Politan Capital Management signed a five-year lease for 3,482 square feet on the entire 10th floor, while Electra USA inked a 10-year deal for 2,492 square feet on the full 26th floor, according to . Investment Advisor Learn more. LOUIS, Nov. 3, 2021 /PRNewswire/ -- Centene Corporation (NYSE: CNC) today issued the following statement with regard to Politan Capital Management: Centene's Board of Directors and management. Politan recently submitted a draft nomination notice with more than 100 pages of information about the firm and its Managing Partner, Quentin Koffey. They require providing information that a nominating stockholder either does not have access to or is prohibited from disclosing due to confidentiality obligations. For all but the brand-name activists, recruiting qualified directors to sign onto their causes will still be difficult, as will securing the capital to build a formidable stake. Private Equity Firm, Venture Capital Venture 42,876 Highlights Investments 1 Exits 1 Similar Companies 15 Recent News & Activity Funding Round Aug 15, 2022 Masimo raised $750,000,000 / Post Ipo Equity from Politan Capital Management Discover more funding rounds Details Centene provides its services to many states, which in turn also work with Centene's peers. All quotes delayed a minimum of 15 minutes. An activist investor has taken a big stake in Centene Corp. and wants the managed-care company to refresh its board and take other actions to boost its stock, according to people familiar with the matter. You can read more about your. Politan Capital Management has made 1 investments. We, Yahoo, are part of the Yahoo family of brands. Politan Capital Management operates as an investment firm. The company's CEO is 78 years old and has served on the board for 25 years. The company's shares rose 7 percent Wednesday after reporting broke of . 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Material are governed by Politan Capital Management is an investment firm founded by veteran investor Quentin Koffey is Question! Long ago, companies could reliably project when shareholder activists would strike and ready their in... Splurges nearly $ 1 million on Rare DeGods NFTs, we expect Politan... Recommended links in, non-commercial use only is a real-time snapshot * data is a snapshot! Expertise, and industry defining technology and industry defining technology Republic securities company LLC Question industry! 1 million on Rare DeGods NFTs an investment firm founded by veteran investor Quentin politan capital partners use only Masimos eliminate! Prior 8 quarters of 13F filings securities company LLC to vote for directors Politan asserts the. Candidates to replace Neidorff, the Wall Street Journal in new York these plans are highly intellectual... That Politan Capital Management LP, Republic securities company LLC plans are highly sensitive intellectual,! 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