Larry Robbins

Larry Robbins
Born	1969 (age 46–47)[1]
Residence	Alpine, New Jersey
Nationality	United States
Education	B.S. University of Pennsylvania[2]
Occupation	Hedge Fund Manager
Known for	founder of Glenview Capital Management LLC
Net worth	US$ 2.3 billion (Dec 2015)[3]
Spouse(s)	Amy Robbins (divorced) Sarahmay Wesemael
Children	four

Larry Robbins (born 1969) is the American founder, portfolio manager, and CEO of Glenview Capital Management, a hedge fund with approximately $9.2 billion of capital under management as of July 2014.^[1][4]

Early life and education

Robbins grew up in a Jewish family^[5] in Arlington Heights, Illinois.^[6] 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][7][8] Robbins played hockey throughout college and was captain of the University of Pennsylvania club team for three years.^[9] Robbins became a Certified Public Accountant in 1991 in Illinois.^[1]

Career

After graduatuation, Robbins worked at Gleacher & Company, a merger and advisory boutique in New York.^[7][8] He joined Leon Cooperman at Omega Advisors after three years at Gleacher.^[7][8] Robbins spent six years as an analyst and partner at Omega Advisors on their US equity long/short team.^[8]

Robbins left Omega to start Glenview Capital Management in 2000, which he named after the suburban Chicago hockey area where he started playing hockey at age five.^[3][6] Robbins is currently the firm’s CEO and portfolio manager. In 2012, he made a successful bet by investing in hospital companies that he thought would benefit from Obamacare.^[10][11] Unlike most hedge funds, Robbins is known for holding stocks for years and not employing stop-losses.^[11] From inception until June 2013, the fund averaged 15% returns of net of fees.^[12]

Investment strategy

Robbins led Glenview investing style is most commonly tied to the category of Growth at a Reasonable Price or “GARP” and focuses on companies in industries that are stable, predictable and steady, with recurring revenue streams or entrenched market positions.^[13] Glenview’s flagship funds which launched in 2001 employ a long/short strategy focused on investments in equity and fixed income securities.^[14]

Awards and recognition

Robbins has led Glenview to receive numerous awards since 2005, and in January 2014, the firm held “Bloomberg Markets” ranking of the best-performing large hedge funds.^[6] Robbins was listed in the Top 10 Super Investors to follow in ‘The Manual of Ideas.’^[15] He serves as senior chair of the United Jewish Appeal Federation’s Wall Street & Financial Services Division.^[16][17]

Charitable activities

Robbins 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.^[8] 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.^[18] 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.^[19] 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.^[8][20]

Personal life

Robbins has four sons, by his first wife Amy Robbins, who he later divorced.^[21][22][23] In 2012, he married his second wife, Sarahmay Wesemael.^[6] He lives in Alpine, New Jersey.^[24][25][26]

References