Glenview Capital Management
The Activist Force with a Healthcare Edge
Hedge fund land is more of a roller coaster than an actual roller coaster. You can soar to the stratosphere on the way up, only to come crashing down. That’s the story of Glenview Capital. Let’s dive into the long-short hedge fund with a healthcare focus, founded by Omega Advisors alum and ice hockey aficionado Larry Robbins.
Larry Robbins
Larry Robbins is the founder of Glenview Capital Management, a long/short, GARP-style (growth at a reasonable price) hedge fund with a strong focus on healthcare stocks.
Born in 1969 in Cook County, a Chicago suburb, Robbins graduated from the University of Pennsylvania in 1992 with dual degrees in Engineering and Business. Even though he knew little about investment banking in college, he interviewed for a role at Gleacher & Company, a boutique investment bank—after all, it was Wharton, where finance roles were practically the norm.
At Gleacher, Robbins thrived in a small-team environment, which offered him hands-on experience with a handful of clients. Over two and a half years, he gained an in-depth understanding of just four or five companies, but his ambitions were bigger—he wanted to analyze dozens. Realizing he’d need more than technical skills and connections to reach the top in investment banking, Robbins began eyeing the buy-side.
The stock market’s meritocracy drew him in. In investing, a solid work ethic and sharp insights could beat a Rolodex of contacts and years of experience. This led Robbins to hedge funds, where analyzing companies was central to the job. His path took a pivotal turn when he joined Omega Advisors, a respected hedge fund run by Leon Cooperman, a former Goldman Sachs partner and prominent value investor. Omega was top-tier, managing $10 billion at its peak, and it was ready to bring in new talent to support its core team, then in their late 30s. Cooperman saw potential in Robbins and gave him a shot, despite his limited buy-side experience.
Over six years, Robbins honed his skills on Omega’s U.S. equity long/short team, eventually becoming a partner. In 2000, he left Omega to start his own fund, Glenview Capital Management, named after Glenview, IL, where he first played hockey as a child. Glenview Capital eventually managed over $10 billion at its peak, achieving the same level of success his boss Leon Cooperman had achieved.