Relational Investors Closes Out Portfolio
February 12 2016 - 6:00PM
Dow Jones News
Ralph Whitworth's Relational Investors LLC closed out its
portfolio in December, marking the end of a firm that was a pioneer
in activist investing and once had $6 billion in assets.
A securities filing late Friday disclosed that the firm has no
stock positions and stopped all trading as of Dec. 18.
San Diego-based Relational, which was founded in 1996 and
sparked change at companies including Hewlett-Packard Co. and Home
Depot Inc., had been winding down operations since 2014. That July,
the firm said Mr. Whitworth, its co-founder and public face, was
taking an indefinite leave. That came after he learned his throat
cancer had recurred, a person familiar with the matter said at the
time.
The Wall Street Journal reported in October of that year that
Relational would wind down. At the time, people familiar with the
matter said some executives at the firm planned to begin a new
fund, potentially under the Relational name. The executives had
hoped to transfer some legacy Relational stakes, including in what
were then H-P and industrial company SPX Corp., to the new fund,
the people said then. But no such firm has yet been started, a
person familiar with the matter said Friday.
Relational had holdings in about 20 companies in 2014. Most of
the stakes were worth between $250 million and $500 million and
included shares in Mondelez International Inc. and Hologic Inc.
Before the fund started winding down, it had about $6 billion in
assets.
Write to David Benoit at david.benoit@wsj.com
(END) Dow Jones Newswires
February 12, 2016 17:45 ET (22:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
HP (NYSE:HPQ)
Historical Stock Chart
From Aug 2024 to Sep 2024
HP (NYSE:HPQ)
Historical Stock Chart
From Sep 2023 to Sep 2024