Larry Robbins

From Infogalactic: the planetary knowledge core
Jump to: navigation, search
Larry Robbins
Born 1969 (age 54–55)[1]
Residence Alpine, New Jersey
Nationality United States
Education B.S. University of Pennsylvania[2]
Occupation Hedge Fund Manager
Known for founder of Glenview Capital Management LLC
Net worth Increase US$ 2.3 billion (Dec 2015)[3]
Spouse(s) Amy Robbins (divorced)
Sarahmay Wesemael
Children four

Larry Robbins (born 1969) is the American founder, portfolio manager, and CEO of Glenview Capital Management, a hedge fund with approximately $9.2 billion of capital under management as of July 2014.[1][4]

Early life and education

Robbins grew up in a Jewish family[5] in Arlington Heights, Illinois.[6] He graduated with honors from the Jerome Fisher Program in Management and Technology at the University of Pennsylvania in 1992, where he received a B.S. in Economics with concentrations in accounting, finance, marketing and a B.S in Engineering, with a major in systems engineering.[2][7][8] Robbins played hockey throughout college and was captain of the University of Pennsylvania club team for three years.[9] Robbins became a Certified Public Accountant in 1991 in Illinois.[1]

Career

After graduatuation, Robbins worked at Gleacher & Company, a merger and advisory boutique in New York.[7][8] He joined Leon Cooperman at Omega Advisors after three years at Gleacher.[7][8] Robbins spent six years as an analyst and partner at Omega Advisors on their US equity long/short team.[8]

Robbins left Omega to start Glenview Capital Management in 2000, which he named after the suburban Chicago hockey area where he started playing hockey at age five.[3][6] Robbins is currently the firm’s CEO and portfolio manager. In 2012, he made a successful bet by investing in hospital companies that he thought would benefit from Obamacare.[10][11] Unlike most hedge funds, Robbins is known for holding stocks for years and not employing stop-losses.[11] From inception until June 2013, the fund averaged 15% returns of net of fees.[12]

Investment strategy

Robbins led Glenview investing style is most commonly tied to the category of Growth at a Reasonable Price or “GARP” and focuses on companies in industries that are stable, predictable and steady, with recurring revenue streams or entrenched market positions.[13] Glenview’s flagship funds which launched in 2001 employ a long/short strategy focused on investments in equity and fixed income securities.[14]

Awards and recognition

Robbins has led Glenview to receive numerous awards since 2005, and in January 2014, the firm held “Bloomberg Markets” ranking of the best-performing large hedge funds.[6] Robbins was listed in the Top 10 Super Investors to follow in ‘The Manual of Ideas.’[15] He serves as senior chair of the United Jewish Appeal Federation’s Wall Street & Financial Services Division.[16][17]

Charitable activities

Robbins serves as chairman of the board for both the Knowledge is Power Program (KIPP) New York and Relay Graduate School of Education. He is a member of the Board of Directors for The Robin Hood Foundation and chairs the Education Committee.[8] He is a member of the Board of Directors for Teach For America (New York) and was an honoree at the 2013 Annual Benefit Dinner.[18] Through their Robbins Family Foundation, Larry and his wife Sarahmay are active supporters of education reform both in New York City and across the US.[19] In addition, Robbins is the Senior Chair of the Wall Street Division of the UJA-Federation and the recipient of the 2007 Young Leadership Award.[8][20]

Personal life

Robbins has four sons, by his first wife Amy Robbins, who he later divorced.[21][22][23] In 2012, he married his second wife, Sarahmay Wesemael.[6] He lives in Alpine, New Jersey.[24][25][26]

References

  1. ↑ 1.0 1.1 1.2 Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ 2.0 2.1 Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ 3.0 3.1 Forbes: The World's Billionaires - Larry Robbins December 2015
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ New York Times Dealbook: "Wall Street Titans Celebrate UJA-Federation" By WILLIAM ALDEN June 12, 2013
  6. ↑ 6.0 6.1 6.2 6.3 Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ 7.0 7.1 7.2 Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ 8.0 8.1 8.2 8.3 8.4 8.5 Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ New York Post: "A rebound for hedgie Robbins" By Kaja Whitehouse January 2, 2013
  11. ↑ 11.0 11.1 Barrons: "Bullish on Obamacare, Hedge-fund star Larry Robbins has made a big bet on hospitals and is pushing them a little harder to buy back stock or make acquisitions. Why he's taking on HMA" By Erin E. Arvedlund July 27, 2013
  12. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.[dead link]
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  15. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  16. ↑ UJA Federation of New York: "Investment Division Honors Singular Leaders" June 12, 2013
  17. ↑ Robin Hood Foundation Speaker Bios: "Larry Robbins" retrieved January 11, 2015
  18. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  19. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  20. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  21. ↑ New York Magazine: "Who Gets to Marry a Billionaire? Hedge-fund wives and where they come from" by Tim Murphy October 24, 2007
  22. ↑ New York Sun: "Out & About" By A.L. GORDON November 30, 2006
  23. ↑ New York Post: "Hedge giant weds" May 31, 2012
  24. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  25. ↑ Daily Mail: "Hedge-fund manager who built ice rink in his backyard is flying 100 friends to Nice for his wedding on private 767" By Rachel Quigley May 31, 2012
  26. ↑ North Jersey.com: "Ice rink in Cresskill residence cleared for construction after lawsuit dismissed" By DEENA YELLIN January 3, 2012
Retrieved from "https://infogalactic.com/w/index.php?title=Larry_Robbins&oldid=721758013"