Stats are not available for the latest quarter, View Last Form Adv Compilation Report on Record. Most recently, Koffey led the activism strategy at Senator Investment Group. The companys lawyers at Quinn Emanuel Urquhart & Sullivan and Paul Hastings have said Masimo adopted the bylaw to promote transparency after the U.S. Securities and Exchange Commission changed proxy voting rules to require that companies present shareholders with all board candidates on a single voting card. Related Persons Relationship: X Executive Officer Director Promoter Clarification of Response (if Necessary): General Partner Relationship: X Executive Officer Director Promoter Clarification of Response (if Necessary): Managing Member of the General Partner There are 2 companies that go by the name of Politan Capital Partners LP. Learn more. 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: 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 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. https://www.politanmgmt.com/ Politan Capital Management LP, a newly established hedge fund led by veteran activist Quentin Koffey, has a roughly $900 million stake in Centene and has spoken to the company about replacing several board members, the people said. You will be notified in advance of any changes in rate or terms. Sign up for free newsletters and get more CNBC delivered to your inbox. The issue here is what the target directors did, what the target directors knew, what the target directors thought at the time, Politan said, citing the Men's Wearhouse case. info@politanmgmt.com . to see more advanced email alert options such as selecting any type of Most recently, Koffey led. Because the company adopted the new disclosure requirements after Politan said it wanted to engage with corporate management, Sidley said, the bylaw might be subject to enhanced scrutiny. Politan Capital Management LP - Assets, Funds, Holdings . But for companies involved in M&A, bumpitrage is no joke. Investments Number of Investments 1 Number of Lead Investments 1 Politan Capital Management has invested in Masimo on Aug 15, 2022. Federal securities laws already include extensive proxy disclosure rules that cover any legitimate concerns around appropriate disclosure. $ + tax Customer Service. By continuing to use this site you are consenting to these choices. 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. 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. Companies hoping to mitigate the risk of bumpitrage now need to prepare thoroughly for the possibility that an activist or even a long-term shareholder could strike. Hedge Fund Politan's specific ideas couldn't be learned. 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. 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 team are committed to acting in the best interests of the Company and its shareholders - and deliver substantial, sustainable value. 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The pressure comes in an effort to motivate Centene's stocks, which haven't seen the growth that its peers' have, the Journal reported. Get the latest business insights from Dun & Bradstreet. Politan Capital Management has had 1 exit, which was Masimo. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. Activist Commentary: Politan Capital Management was founded by Quentin Koffey. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. . and a top 10 holdings concentration of 100.0%. 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. I dont envy Cook, who joined Chancery Court only in September. Fund AUM and Sold ($) 900 720 540 360 180 0 2011 2015 2019 2023. Continue. Gibson, Dunn & Crutcher LLP > Palo Alto, United States > Firm Profile Politans suit seeks to declare the Bylaw Amendments unenforceable, find that the Companys directors breached their fiduciary duties by approving and implementing the amendments, invalidate the change of control provisions in the CEOs employment agreement that could result in hundreds of millions of dollars of value being transferred to Chairman and CEO Joe Kiani even if only two of directors on the Board were replaced, and enjoin Masimo and the Board from taking any actions to prevent Politan from exercising its rights to nominate candidates for election to the Board. Issuer's Identity 2. By leveraging over 35 years of experience in the franchise, real estate and software industries we not only provide . Many of the Bylaw Amendments are unprecedented among publicly traded companies. Sign In. Get this delivered to your inbox, and more info about our products and services. Any after-the-fact revelation of the identity of Politans backers, the fund said, is irrelevant. Politan asserts that the bylaw contravenes Delaware law by entrenching Masimos management and interfering with shareholders right to vote for directors. To embed, copy and paste the code into your website or blog: NEW YORK, October 21, 2022--(BUSINESS WIRE)--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"). Politan, which has not confirmed that EnTrust is an investor, has asked the Delaware court to quash that subpoena and to deny Masimos attempt to unmask all of its financial backers through the discovery process. Politan Capital Management. 316047 | Last Form ADV Filed on 25 Jul 2022 | Registration: SEC Summary Details Export Identifying Information CRD No. POLITAN CAPITAL PARTNERS LP. This column will examine the defense devised by Masimo Corp., a publicly held medical technology company, to resist a proxy contest threatened by Politan Capital Management LP, an activist hedge fund. For non-personal use or to order multiple copies, please contact Politan Capital Management LP, founded by veteran activist Quentin Koffey, has a 9% stake in Masimo worth roughly $750 million, the people said. Customer Service. BOSTON, Dec 14 (Reuters) - Centene Corp reached a deal with activist investment firm Politan Capital Management in which five new directors will join the managed care company . Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. This company needs for the first time since it went public, a board of experienced directors and fresh eyes to hold management accountable and develop a comprehensive succession plan. Date Filing Type Reported Sold Incremental Cash Type Exemptions Link to Raw Filing; 2022-09-16 Amended: CBI websites generally use certain cookies to enable better interactions with. NEW YORK, NY Two of the incoming directors were proposed by Politan, a new firm founded by veteran investor Quentin Koffey. for POLITAN CAPITAL MANAGEMENT LP, Top 20 equal-weighted holdings. Whalewisdom has at least 4 13F filings, and 3 13D filings. Opinions expressed are those of the author. Activist: Politan Capital Management. Stock Market Value: $44.2B ($75.86 per share). The Masimo bylaw, as my Reuters colleague Svea Herbst-Bayliss has reported, has engendered quite a bit of debate among corporate governance experts. In this pro-ESG vs. anti-ESG environment, institutional investors the electorate whose support activists need to win any proxy contest may look to evaluate ESG-oriented proposals and campaign themes more on their ability to create more-immediate shareholder value. Subscribe to WhaleWisdom to view all filing data But those of Masimo Corp., the global medical technology company, are stronger than most. Compare against similar firms. Centene is a managed care organization that provides health plan coverage to individuals through government-subsidized and commercial programs. Politan, which owns an 8.9% stake in Masimo and is run by Quentin . Submit your Analyst Briefing to get in front of investors, customers, and partners on CB Insights platform. In the legend, a master craftsman creates wings of feathers and wax for himself and his son to escape danger. Find out more about how we use your information in our privacy policy and cookie policy. Advance-notice bylaws are nothing new. Already a member? Gala Capital. Frankel is the author of Double Eagle: The Epic Story of the Worlds Most Valuable Coin. Securities law guru John Coffee of Columbia Law School said in a blog post in October that requiring activist hedge funds to disclose their own backers advances the goal of greater transparency. Coffee derided Chicken Little-like predictions that such disclosures would pose an existential threat to activist campaigns. Mr. Politan is also a member of the Global Finance Practice Group. Welcome to. Centene's stock price climbed 0.83% in early trading on Tuesday. This requirement ignores the standard confidentiality obligations investment managers have by requesting information the stockholder is unlikely to have, has no right to obtain and otherwise is obligated to keep confidential. De-SPACed companies that are rigorous in their preparation and skillful in their responses will be best equipped to come out on top. Politans lawyers from Schulte Roth & Zabel and Cadwalader, Wickersham & Taft contend the Masimo bylaw is a naked and unprecedented attempt to chill activist investors by demanding that they divulge confidential information about their investors and future plans. How quaint that seems today. In addition to Irenic Capital, which Adam Katz and Andy Dodge founded in 2021, new names include Strive Asset Management, founded by Vivek Ramaswamy in 2022, and Politan Capital Management, which . Continue reading your article witha WSJ membership, Already a member? Centene provides its services to many states, which in turn also work with Centene's peers. WRITE REVIEW. And its a growing challenge that looms large over deals of all sizes. The region is divided into two localities - Badlapur East and West. (Reuters) - 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 medical device maker Masimo Corp will exhort Vice Chancellor Nathan Cook to grant their discovery demands and to squelch those from the other side. Part of the reason why Centene's margins lag its peers is because it has been growing primarily through acquisitions, most recently acquiring WellCare at a transaction valued at $19.6 billion. Partners. 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 . Proxy voting next spring will be the first full season under the SECs new rules requiring that management and shareholders use universal proxy cards in contested director elections. In the end, they will be more focused on how qualified and engaged the directors are and less concerned with where they came from. John Paulson's: Paulson & CO. Nelson Peltz's: Trian Fund Management. Carl Icahn: Icahn Carl C. Seth Klarman's: Baupost Group. or to simply have an email sent to you whenever we receive a new These acquisitions need to be integrated and operations need to be centralized. Principal Place of Business and Contact Information 3. This copy is for your personal, non-commercial use only. See here for a complete list of exchanges and delays. You are limited to the prior 8 quarters of 13F filings. site you are consenting to these choices. Registered Agent: The reality of this threat can be debated, but the takeover defense bar is beginning to respond. 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