Dear Dr. Hernandez and other members of the Board of Directors: I write on behalf of investment funds managed by Owl Creek Asset Management, L.P. ("Owl Creek" or "we"), which, as of August 19, 2022, own 8,685,171 shares of Cano Health, Inc., representing 3.745% percent of the Class A equity of the Company, to share concerns we have with the Company's current trajectory. Owl Rock, founded in 2016, is a leading provider of tailored private credit and financing offerings for sponsor backed middle- and upper-middle-market businesses Blue Owl is headquartered in New York City and employs over 545 people across 10 offices in North America, Europe, and Asia. enva un correo electrnico a Chicago, IL 60601 Only includes UK, France, Germany, Japan, and HKEX are presently being processed. AddThis sets this geolocation cookie to help understand the location of users who share the information. And so that dialogue starts a process." OWL CREEK SRI MASTER FUND, LTD. Fund Type: Hedge Fund Private Fund ID: 805-8760117796 Form D File Number: 021-109019 Owners: 6 Minimum Investment: 5000000 Gross Asset Value: 61614000 Insider Ownership %: 57 Parent Fund: OWL CREEK ASSET MANAGEMENT, L.P. Name(s) of Parter, Manager, Trustee, or Director If Cano had an enterprise value equal to three times this year's expected revenue like Oak Street Health and agilon do, or one similar to what Amazon is paying for One Medical, that would increase the valuation by more than $4.5 billion, equating to a share price of approximately $14. Dr. Marlow HernandezChairman of the Board and Chief Executive OfficerCano Health, Inc.9725 NW 117th AvenueMiami, Florida 33178. Past performance is not a guide to future results. enviando un correo electrnico a Download 13F Summary ? Their last reported 13F filing for Q4 2022 included $2,982,857,817 in managed 13F securities Established in 2002, Owl Creek Asset Management (Owl Creek) is a New York-based hedge fund manager founded by the chief portfolio manager, Jeffrey Altman with the launch of the flagship funds. Memorandum of understanding mou terms. All rights reserved. The company is headquartered in New York, New York. Project overview DataArt is assembling a project team for the logical continuation of the discovery and solution design phases we recently completed for one of Europe's leading alternative asset management firms.. DataArt specialists were engaged to help build a new cloud-based data management and analytics platform. With billions in assets under management (AUM), Owl Creek Asset Management is one of the few hedge fund companies to have come out of the financial crisis without suffering major losses. 212-688-2550, Internet Explorer presents a security risk. The main technologies are Azure Data Platform (Azure SQL, Azure Data . Please enable Cookies and reload the page. Spin-off has Minimal Incremental Costs and Business Disruption. The firm was founded in 2001 and is registered as an investment adviser with the U.S. Securities and Exchange Commission. Ajude-nos a manter o Glassdoor seguro confirmando que voc uma pessoa de / PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES / MANAGEMENT, SCIENTIFIC, AND TECHNICAL CONSULTING SERVICES / UNITED STATES / NEW YORK / NEW YORK / Owl . It is widely speculated that Party A is CVS Health Corporation ("CVS"), which has been very vocal in its interest in primary care-centric value-based care (VBC) providers. Further, we believe that if our suggestions are implemented and Old Republic unlocks the value of its overshadowed title business, the Board has the opportunity to create more than 50% in incremental shareholder value. ASC AdvisorsSteve Bruce / Taylor Ingraham1 (203) 992-1230[emailprotected]/ [emailprotected], Cision Distribution 888-776-0942 The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. Copyright Blue Owl Capital Inc. 2023. This cookie is set by GDPR Cookie Consent plugin. Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Owl Creek believes that Old Republics shares continue to be materially undervalued in the market and, if the firms suggestions are implemented, the Company has the opportunity to create more than 50% in incremental shareholder value. . Additionally, we believe it is important to highlight what we believe is the misleading nature of Old Republics total shareholder return over several decades. las molestias. Long-Term Focus Like most family owned companies, Owl Creek Partners has a long term approach to investing. 74 Followers. Managing Partner See the Top Performing Hedge-Funds > Jeffrey Altman . for OWL CREEK ASSET MANAGEMENT, L.P. Top 20 equal-weighted holdings. Given the persistent and wide gap between where Cano shares trade and the valuation of comparable companies, we believe there is ample room to come to terms with a strategic buyer that maximizes value for shareholders and provides the Company a platform for future growth. Partner, Director of Marketing and Investor Relations, The implications of SVB's collapse for VC, private debt, and the banking system, Fundraising from Private Wealth Webinar | EMEA, Fundraising from Private Wealth Webinar | Americas, Private Capital Valuations and Performance Trends Webinar, Placement Agents and Third-Party Marketers, Consulting and Corporate Advisory Services, LP & Capital Allocator Solutions (Colmore). Owl Creek Asset Management LP is a company that operates in the Financial Services industry. We believe the Companys continued refusal to address legitimate shareholder concerns with its organizational framework, entrenched Board structure and severe lack of Board diversity, among other topics, to be unacceptable and indicative of its historically weak and, frankly, evasive shareholder communications practices. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. AddThis sets this cookie to ensure that the updated count is seen when one shares a page and returns to it, before the share count cache is updated. Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter. Issued by Microsoft's ASP.NET Application, this cookie stores session data during a user's website visit. Owl Creek Asset Management. It works only in coordination with the primary cookie. Owl Creek Asset . The highest earners in the top 75th percentile are paid over $123,475. David Campbell is an Analyst at Owl Creek Asset Management based in New York, New York. It primarily employs an event-driven and fundamental value long/short investment strategy in equity and debt markets across the globe. Owl Creek Asset Management, L.P. recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31. 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Jean Carroll Case, Workers Well-BeingTops Agenda at Annual Shareholder Meetings, Bara DitchingPrivate Jet for Train Points toGreener Football, What to Know About Red-Flag Warnings, an Ominous WildfireForecast, Germany Sets the New Standard for Cheap, National Mass Transit, Chinas Now Spurning Ugliest Buildings That Symbolized Its Meteoric Rise, Broke Chinese Gen Zs Turn Factory Town into Top Tourist Spot, Nigerias SEC Plans to Allow Asset-Backed Tokens But Not Crypto, Bitcoin Sags After its Longest Streak of Monthly Gains Since 2021, Bitcoin on Course for Longest Streak of Monthly Gains Since 2021. The best-known company in the owned and operated medical center segment, and the first to go public, Oak Street Health Inc. ("Oak Street"), has an enterprise value that is nearly 3.2 times the high end of its 2022 revenue guidance of $2.145 billion. We believe Blue Owls complementary platforms provide advantages and efficiencies that benefit our portfolio companies and investors. 2. Investment Advisor In fact, CVS has stated since late last year that they have well over $10 billion in capital to deploy towards strategic initiatives with VBC at the top of the list. Old Republics Board and past management, in our view, have a concerning track record of poor communications with shareholders and a general unwillingness to cooperate with shareholders. Partnerships We believe that strong partnerships are the cornerstone to successful businesses. Claim your Free Employer Profile Website: Headquarters: New York, NY Size: 1 to 50 Employees Type: Company - Private Revenue: $1 to $5 million (USD) Competitors: Unknown What are your colleagues talking about? Kimberly Smith On a tax-adjusted basis, total shareholder returns paint a very different story versus peers, and we believe these taxes are an unnecessary form of leakage for long-term shareholders. Old Republics title and general insurance segments operate fundamentally different business models that have distinct strengths but share no clear benefit from being operated under the same corporate umbrella. . The industry is ripe for consolidation with large health care companies looking to grow. free lookups / month. OWL Creek Asset Management is based out of New York. We feel that Cano's continued growth will require a larger and stronger vertically integrated partner with access to the capital needed to execute the Company's business plan. This will schedule a job to export all requested 13f holdings data for this filer. Hedge Fund Manager. Analyst Team Kevin Starke , CFA Kevin Starke , CFA Vice President Kevin is a special situations equity analyst, with particular expertise in . Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie The products, services, information and/or materials contained within these web pages may not be available for residents of certain jurisdictions. On May 15, 2020, Owl Creek Asset Management, L.P. and Anterix Inc. have had and expect to continue to have cooperative discussions exploring a mutual interest about Owl Creek Asset joining the board of directors of the Company. | Als u dit bericht blijft zien, stuur dan een e-mail Access effective, reliable, and comparable fund performance data and place your firm or portfolio within the context of the alternative assets market. Engage via Email. Ancora, an $8.7 . Corporate Governance Reform is Needed to Protect and Bolster Investor Support. OWL Creek Asset Management is a hedge fund with 17 clients and discretionary assets under management (AUM) of $3,427,908,000 (Form ADV from 2022-03-01). Our platforms, with over 140 investment professionals, are led by an executive team with decades of experience building successful alternative investment businesses. Tulane University - A.B. Jeffrey Altman Abernathy MacGregor They are part of the Operations team within the Operations Department and their management level is C . Performance Please contribute data. To act in the benefit of long-term shareholders, we believe the Board should immediately authorize a sizeable share repurchase program not at any price, but through a disciplined and valuation-based approach. When typing in this field, a list of search results will appear and be automatically updated as you type. As you are aware, investment funds advised by Owl Creek Asset Management, L.P. (Owl Creek or we) are shareholders of Old Republic International Corporation (Old Republic or the Company) and beneficially own over 2% of the Companys outstanding common equity.