Barry Rosenstein

Barry S. Rosenstein (born 1960) is an American hedge fund manager and former billionaire. He is the founder of JANA Partners LLC, an activist hedge fund firm. He made $300 million over the merger of Whole Foods with Amazon in April–July 2017.

Barry Rosenstein
Born
Barry S. Rosenstein

1959/1960 (age 60–61)[1]
NationalityAmerican
EducationLehigh University
Wharton School of the University of Pennsylvania
OccupationHedge fund manager
Known forFounder of JANA Partners
Net worth$1.3 billion (2008)[2]
Spouse(s)Lizanne Teitelbaum

Early life and education

Barry Rosenstein was born in 1960.[3] He is the son of Herbert Rosenstein of West Orange, New Jersey, a senior partner in the tax accounting firm of Rosenstein, Schantz & Jacobson, and his wife, Harriet Wolf.[4]

Rosenstein graduated from Lehigh University in 1981 where he studied accounting.[5][6] He earned a master in business administration from the Wharton School of the University of Pennsylvania in 1984.[6][7]

Investing career

Rosenstein first worked in the investment banking and merger departments of Merrill Lynch & Co. Inc.[8]

Before launching JANA Rosenstein worked with Asher Edelman, a well-known corporate raider, for 3.5 years in the 1980s.[8][9]

In the early 1990s Rosenstein went to San Francisco, having early success funding Copart, Inc., the world's largest car salvage company. He then led a private equity firm, Sagaponack Partners.[9]

Rosenstein founded hedge fund firm JANA Partners, in 2001, with about $35 million.[6][10] Rosenstein is ranked with activist investors including Carl Icahn, Daniel Loeb and Bill Ackman.[9]

In April 2017, he made public that he and several investors owned 8.8% of Whole Foods, making them the second largest shareholders of the company after The Vanguard Group.[11] He added that they aimed to shake up its board of directors and improve its use of technology.[11] After Whole Foods merged with Amazon, Rosenstein sold his investment for $300 million in July 2017.[12]

Activist investing

Through JANA Partners, Rosenstein buys large percentages of companies which he identifies as underperforming. He then has those companies make the changes he believes they need to improve the performance of the company.[13][14]

Boards

Rosenstein serves on the board of trustees of Brown University, the Rock and Roll Hall of Fame and 92nd Street Y.[6][15]

Personal life

In 1986, he married Lizanne Teitelbaum, the daughter of Dr Seymour Teitelbaum and Lilian Ostrovsky de Teitelbaum of Briarcliff Manor, New York, and Buenos Aires, with Rabbi David Kahane and Cantor Dov Kerin officiating at the Plaza Hotel in New York.[4] He took up yoga after a 1992 wind-surfing accident. Doctors told him he needed surgery, but he chose yoga instead.[16] In 2008, Forbes estimated his net worth at $1.3 billion.[2]

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References
  1. "Executive Profile: Barry S. Rosenstein CPA". Bloomberg. Retrieved 12 May 2017.
  2. "The World's Billionaires: #897 Barry Rosenstein". Forbes. Retrieved December 26, 2018.
  3. "#380 Barry Rosenstein - Forbes.com". www.forbes.com. Retrieved 2018-10-16.
  4. "Miss Teitelbaum Wed To Barry Rosenstein". New York Times. December 21, 1986. Retrieved 12 May 2017.
  5. "Rosenstein: 'Business is just about people'". 2014-09-17. Retrieved 2018-10-16.
  6. "Barry Rosenstein". Brown University. Retrieved May 11, 2017.
  7. "Paid Notice: Deaths ROSENSTEIN, HERBERT". New York Times. Aug 15, 1997. Retrieved 12 May 2017.
  8. Williamson, Christine (1 April 2013). "JANA's Rosenstein is a serious activist". Pensions & Investments. Retrieved 16 October 2018.
  9. Edwards, John (2016-02-03). "Jana Partners: An Activist Investor Analysis | Investopedia". Investopedia. Retrieved 2018-10-16.
  10. Chung, Juliet; Benoit, David (2015-03-18). "Jana Partners Sells 20% Stake in Firm". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-16.
  11. Rivas, Teresa (April 15, 2017). "Whole Foods Could Head Higher With Jana Partners' Help". Barron's. Retrieved May 11, 2017.
  12. Morrell, Alex (July 19, 2017). "The hedge fund that turned Whole Foods into a takeover target for Amazon is walking away with $300 million". Business Insider. Retrieved February 8, 2019.
  13. Breuninger, Kevin (2017-06-16). "Jana Partners stands to make hundreds of millions from Whole Foods acquisition". CNBC. Retrieved 2018-10-22.
  14. "This Major Activist Hedge Fund Is Having Another Horrible Year". Fortune. Retrieved 2018-10-22.
  15. "Board of directors". 92nd Street Y. Archived from the original on May 15, 2017. Retrieved May 11, 2017.
  16. Gross, Michael (2014-05-25). "A closer look at hedge fund titan Barry Rosenstein". New York Post. Retrieved 2018-10-16.


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