Larry Robbins (born 1969) is an American hedge fund manager and philanthropist. He is the chief executive of Glenview Capital Management, a hedge fund with approximately $7.7 billion of capital under management as of March 2019.[3]
Larry Robbins | |
|---|---|
| Born | 1969 (age 54–55)[1] |
| Nationality | American |
| Education | University of Pennsylvania[2] |
| Occupation | Hedge fund manager |
| Known for | Founding and managing Glenview Capital Management Owner of the Chicago Steel |
| Spouse(s) | Amy Towers (divorced) Sarahmay Robbins |
| Children | 4 sons |
Early life and education
editRobbins grew up in a Jewish family[4] in Arlington Heights, Illinois.[5] 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][6][7] Robbins played hockey throughout college and was captain of the University of Pennsylvania club team for three years.[8] Robbins became a Certified Public Accountant in 1991 in Illinois.[1]
Investment career
editAfter graduation, Robbins worked at Gleacher & Company, a merger and advisory boutique in New York.[6][7] He joined Leon Cooperman at Omega Advisors after three years at Gleacher.[6][7] Robbins spent six years as an analyst and partner at Omega Advisors on their US equity long/short team.[7] Robbins left Omega to start Glenview Capital Management in 2000, named after the suburban Chicago hockey area where he started playing hockey at age five.[9][5] In 2012, he made a successful bet by investing in hospital companies that he thought would benefit from Obamacare.[10] Unlike most hedge funds, Robbins is known for holding stocks for years and not employing stop-losses.[10] Robbins is currently the firm's CEO and portfolio manager.
Personal life
editRobbins has four sons, by his first wife Amy Towers, who he later divorced.[11][12] In 2012, he married his second wife, Sarahmay Wesemael.[5] He lives in Alpine, New Jersey but has recently relocated to South Florida.[13] Robbins is the owner of the Chicago Steel of the USHL.[14]
Wealth and philanthropy
editRobbins 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.[7] 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.[15] 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.[16] 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.[7][17]
In 2014, Robbins reportedly earned $570 million (including his share of his firm's management and performance fees, cash compensation and stock and option awards).[18]
References
edit- ^ a b "Lawrence Michael Robbins CPA". Bloomberg Businessweek. Retrieved August 26, 2014.[dead link]
- ^ a b "Larry Robbins". Wharton School of the University of Pennsylvania. Retrieved August 23, 2014.
- ^ "Glenview Capital Lost $2 Billion in Assets in About Nine Months". Bloomberg.com. 3 May 2019.
- ^ New York Times Dealbook: "Wall Street Titans Celebrate UJA-Federation" By WILLIAM ALDEN June 12, 2013
- ^ a b c Katherine Burton, Anthony Effinger and Kelly Bit (January 7, 2014). "Glenview's Robbins Tops Hedge-Fund Ranking". Bloomberg News.
- ^ a b c GuruFocus (December 31, 2013). "King of Consistency - Larry Robbins' High Conviction Stocks in Review". NASDAQ.
- ^ a b c d e f "Larry Robbins". CNBC. May 17, 2013.
- ^ Erin E. Arvedlund (July 27, 2013). "Bullish on Obamacare". Barron's Magazine.
- ^ "Forbes profile: Larry Robbins". Forbes. Retrieved 11 September 2019.
- ^ a b 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
- ^ New York Magazine: "Who Gets to Marry a Billionaire? Hedge-fund wives and where they come from" by Tim Murphy October 24, 2007
- ^ New York Sun: "Out & About" By A.L. GORDON November 30, 2006
- ^ North Jersey.com: "Ice rink in Cresskill residence cleared for construction after lawsuit dismissed" By DEENA YELLIN January 3, 2012
- ^ "About the Steel".
- ^ "Larry Robbins". Robin Hood Foundation. November 22, 2013.
- ^ "Larry Robbins". Invest for Kids. Retrieved August 27, 2014.
- ^ "Mediocrity Be Gone". Robin Hood Foundation. Retrieved August 26, 2014.
- ^ H. Kent Baker; Greg Filbeck (26 July 2017). Hedge Funds: Structure, Strategies, and Performance. Oxford University Press. pp. 52–. ISBN 978-0-19-060739-5.