Engaged Capital LLC Announces Strategic Partnership with Grosvenor Capital Management; Receives $85M Seed Capital
Activist Equity Firm Offers Differentiated Approach to Investing, Emphasizing Partnership and Constructive Engagement
10 Sep, 2012, 09:30 ET
NEWPORT BEACH, Calif., Sept. 10, 2012 /PRNewswire/ -- Engaged Capital, an activist investment firm focused on investing in small and mid-cap North American equities, today announced a strategic partnership with Grosvenor Capital Management, one of the oldest and largest global alternative investment managers, with over $22 billion in assets under management. The Engaged deal is the second strategic partnership entered into by Grosvenor since it launched its current Emerging Manager program at the beginning of the year.
Engaged Capital was founded this month by Glenn W. Welling, a former Principal and Managing Director at Relational Investors. Engaged makes concentrated investments in undervalued public companies and through a constructive engagement process serves as the catalyst for strategic change and shareholder value creation. Having spent over 20 years as an advisor and activist investor, Mr. Welling is well positioned to work with a company's senior management and board to bring an owner's perspective to their decision making process. Mr. Welling has been joined at Engaged Capital by a team of his colleagues from Relational Investors.
Commenting on the agreement, Welling said: "Our experienced team, who formerly worked with activist pioneers Ralph Whitworth and David Batchelder, brings a differentiated approach to activist investing in the small and mid-cap universe. By combining our deep research and value-added insights, we are able to present companies with solutions for creating long-term shareholder value. We are proud to be partnering with Grosvenor Capital Management, a world-class alternative investment manager, whose experience will be invaluable as we look to produce attractive returns for our clients."
SOURCE Engaged Capital LLC
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