A New York-based investment manager has filed papers with the Securities and Exchange Commission saying it now owns more than 5 percent of Brookdale Senior Living's shares. Visium is home to more than 130 people and manages $5.5 billion for its clients, running both long and short strategies. Shares of Brookdale (Ticker: BKD) are up slightly today to $31.91 and have risen 17 percent year to date.
Franklin investment manager Tim Pagliara is going to bat for investors in mortgage giants Fannie Mae and Freddie Mac, which completely overhauled their dividend policies in August 2012 when the federal government placed them in conservatorship. Pagliari, who runs CapWealth Advisors, is looking to build a coalition that can influence how the next wave of Fannie Mae and Freddie Mac reforms will unfold.
"I'm hearing from scores of outraged people invested in Fannie and Freddie who are incredulous at the way in which the US Government side-stepped the rule of law to seize legitimate investments and profit," said Tim Pagliara. "Many are ready to take action. Some will be in Washington, D.C., next week to meet with legislators like those on the Senate Banking Committee who think they might be able to dismiss investor rights and the rule of law as they rally behind the Crapo-Johnson bill.
The activism is nothing new for Pagliara, who two years ago launched a push to raise awareness of the rising national debt.
The local office of Raymond James has scored a nice win by recruiting financial advisors Paul Allen and David Schadel from Wiley Bros.-Aintree Capital. Allen (left in the photo) and Schadel, who had been with Wiley for a combined 14-plus years, manage about $200 million for the clients. Along with Client Services Manager Heather Beckwith, they are now based in Maryland Farms.
The managers of a New York hedge fund appear to really like Brookdale Senior Living's planned acquisition of rival Emeritus. Senator Investment Group this week said it owned more than 6.2 million shares of Brentwood-based Brookdale as of Monday. That's up from exactly zero on Dec. 31. With event-driven theses a part of Senator's strategy, it's more than likely all those shares were acquired on the heels of the Emeritus news. Even better: Senator already is sitting on a paper profit of more than $8.5 million since Brookdale shares (Ticker: BKD) are up more than 4 percent since the close of Monday's trading.
Senator, which was founded in 2008 with backing from Blackstone, two and half years ago declared a 5 percent stake in Vanguard Health Systems. Since then, its assets under management have grown nicely from $2.3 billion to more than $8.7 billion.
POSTDATA: WARRANTY DEEDS