Glenview Capital Management, founded in 2000 by Larry Robbins (Trades, Portfolio), is a privately held investment management firm. Glenview manages approximately $7.4B of assets split between two products: the Glenview Funds (long/short) and the Glenview Opportunity Funds (concentrated, opportunistic). Since inception, the compounded annualized rates of return for the Glenview and GO Funds are approximately 15% and 25%, respectively. Glenview is focused on delivering attractive absolute returns through an intense focus on deep fundamental research and individual security selection. Their investments are primarily focused on the US, with a smaller amount of exposure in Western Europe.
Last quarter, Glenview Capital initiated a position in Manitowoc (NYSE:MTW) by buying 8,614,197 shares of the company. The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer operating in two principal markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). The company's Crane segment is recognized as one of the world’s leading providers of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks. It accounts for ~62% of the company's top line. Manitowoc's Foodservice segment is one of the world’s leading innovators and manufacturers of commercial food-service equipment serving the ice, beverage, refrigeration, food-preparation, holding and cooking needs of restaurants, convenience stores, hotels, healthcare and institutional applications. It accounts for ~38% of the company's revenues. Continue Reading »