|With his reputation as a notoriously successful bluffer firmly entrenched in Silicon Valley board rooms, Jesse Cohn is making a move to stack the deck in his favor the next time he offers a buyout. According to Bloomberg News, the activist hedge fund manager at Elliott Management is beefing up his private-equity capacity in order to let the board rooms know he’s no longer bluffing. |
As an activist investor, Jesse Cohn is best known for making buyout offers to companies in which he holds a minority stake. Although his offers were typically perceived as bluffs, his activism had the weight to force the sale of several companies, such as Riverbed Technology Inc., generating a sizable profit on his minority stake. By adding the private-equity component to his strategy, his offers (or bluffs) will have more heft in minority stake plays, and he can benefit from longer-term returns should take a full ownership position as a private-equity investor.
Elliott currently sits at number 12 on HedgeTracker's Top Activist Hedge Fund List.