Larry Robbins

Larry Robbins
Born 1969 (age 47–48)[1]
Residence Alpine, New Jersey, U.S.
Nationality United States
Education B.S. University of Pennsylvania[2]
Occupation Investor, hedge fund manager, and philanthropist
Known for Founding and managing Glenview Capital Management
Owner of the Chicago Steel
Net worth US$2.3 billion (December 2015)[3]
Spouse(s) Sarahmay Robbins
Amy Towers (divorced)
Children 5

Larry Robbins (born 1969) is an American investor, hedge fund manager, and philanthropist. He is the chief executive of Glenview Capital Management, a hedge fund with approximately $9.2 billion of assets 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]

Investment career

After graduation, 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, named after the suburban Chicago hockey area where he started playing hockey at age five.[3][6] 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] Robbins is currently the firm’s CEO and portfolio manager.

Personal life

Robbins has four sons, by his first wife Amy Towers, who he later divorced.[13][14][15] In 2012, he married his second wife, Sarahmay Wesemael.[6] He lives in Alpine, New Jersey.[16][17][18] Robbins is the owner of the Chicago Steel of the USHL.[19]

Wealth and philanthropy

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.[20] 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.[21] 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][22]

References

  1. 1 2 3 "Lawrence Michael Robbins CPA". Bloomberg Businessweek. Retrieved August 26, 2014.
  2. 1 2 "Larry Robbins". Wharton School of the University of Pennsylvania. Retrieved August 23, 2014.
  3. 1 2 Forbes: The World's Billionaires - Larry Robbins December 2015
  4. ↑ Juliet Chung (July 17, 2014). "In Investor Letter, Glenview Looks Back at 2008, Looks Ahead to More Babies". Wall Street Journal.
  5. ↑ New York Times Dealbook: "Wall Street Titans Celebrate UJA-Federation" By WILLIAM ALDEN June 12, 2013
  6. 1 2 3 Katherine Burton, Anthony Effinger and Kelly Bit (January 7, 2014). "Glenview’s Robbins Tops Hedge-Fund Ranking". Bloomberg News.
  7. 1 2 3 GuruFocus (December 31, 2013). "King of Consistency - Larry Robbins' High Conviction Stocks in Review". NASDAQ.
  8. 1 2 3 4 5 6 "Larry Robbins". CNBC. May 17, 2013.
  9. ↑ Erin E. Arvedlund (July 27, 2013). "Bullish on Obamacare". Barron's Magazine.
  10. ↑ New York Post: "A rebound for hedgie Robbins" By Kaja Whitehouse January 2, 2013
  11. 1 2 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
  12. ↑ "Larry Robbins on HMA". Wall Street Oasis. June 30, 2013.
  13. ↑ New York Magazine: "Who Gets to Marry a Billionaire? Hedge-fund wives and where they come from" by Tim Murphy October 24, 2007
  14. ↑ New York Sun: "Out & About" By A.L. GORDON November 30, 2006
  15. ↑ New York Post: "Hedge giant weds" May 31, 2012
  16. ↑ "Why live in Alpine?". BergenCounty.com. Retrieved September 2, 2014.
  17. ↑ Daily Mail: "Hedge-fund manager who built ice rink in his backyard is flying 100 friends to Nice for his wedding on private 767" By Rachel Quigley May 31, 2012
  18. ↑ North Jersey.com: "Ice rink in Cresskill residence cleared for construction after lawsuit dismissed" By DEENA YELLIN January 3, 2012
  19. ↑ http://www.chicagosteelhockeyteam.com/page/show/2725243-about-the-steel
  20. ↑ "Larry Robbins". Robin Hood Foundation. November 22, 2013.
  21. ↑ "Larry Robbins". Invest for Kids. Retrieved August 27, 2014.
  22. ↑ "Mediocrity Be Gone". Robin Hood Foundation. Retrieved August 26, 2014.
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