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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Jana Partners Closing Two Funds

Jan 26, 2014
Jing Chen

New York-based hedge fund firm Jana Partners has made the decision to close its onshore and offshore Nirvana funds to new investors.

According to a letter Jana founder and managing partner Barry Rosenstein addressed to investors that was obtained by Pensions & Investments, the funds will be closed “to preserve investor value. Rosenstein added that the firm may also close its master fund to investors “at some point in the future, depending on the opportunity set.”

Launched in April 2007, the Nirvana funds are the more concentrated versions of Jana’s master fund. The funds co-invest with institutional investors in “select ideas” from the flagship fund in fewer positions that are about 1.5 times or larger than those in the master fund.

An activist hedge fund, Jana has about $8 billion in AuM.

 

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