{{Short description|American financier (born 1969)}} {{Infobox person | name = Larry Robbins | image = | caption = | birth_name = | birth_date = {{birth date and age|1969|10|22}}<ref>{{Cite web |url=https://www.cnbc.com/2014/10/06/larry-robbins.html |title=CNBC Next List: Larry Robbins |date=October 6, 2014 |publisher=CNBC}}</ref> | birth_place = Arlington Heights, Illinois, United States | death_date = | death_place = | nationality = | education = University of Pennsylvania<ref name="wharton">{{Cite news| url =http://www.whartonny.com/article.html?aid=1582|title=Larry Robbins|publisher=Wharton School of the University of Pennsylvania |accessdate = August 23, 2014}}</ref> | occupation = Hedge fund manager | known_for = Founding and managing Glenview Capital Management<br>Owner of the Chicago Steel | spouse = {{ubl|{{marriage|Amy Towers|end=divorced}}|{{marriage|Sarahmay Wesemael|2012}}}} | children = 4 sons | parents = | family = | website = }}
'''Larry Robbins''' (born October 22, 1969) is an American hedge fund manager and philanthropist. He is the chief executive of Glenview Capital Management, a hedge fund with approximately $7.7 billion of capital under management as of March 2019.<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2019-05-03/glenview-capital-lost-2-billion-in-assets-in-about-nine-months|title=Glenview Capital Lost $2 Billion in Assets in About Nine Months|last=|first=|newspaper=Bloomberg.com|date=3 May 2019|website=|access-date=}}</ref>
==Early life and education== Robbins grew up in a Jewish family<ref>[https://dealbook.nytimes.com/2013/06/12/wall-street-titans-celebrate-uja-federation/?_php=true&_type=blogs&_r=0 New York Times Dealbook: "Wall Street Titans Celebrate UJA-Federation" By WILLIAM ALDEN] June 12, 2013</ref> in Arlington Heights, Illinois.<ref name="tops">{{Cite news| url =https://www.bloomberg.com/news/2014-01-08/glenview-s-robbins-tops-hedge-fund-ranking-with-bet-on-obamacare.html|title=Glenview's Robbins Tops Hedge-Fund Ranking|author=Katherine Burton, Anthony Effinger and Kelly Bit |publisher=Bloomberg News |date =January 7, 2014}}</ref> 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.<ref name="wharton"/><ref name="guru">{{Cite news| url = http://www.nasdaq.com/article/king-of-consistency-larry-robbins-high-conviction-stocks-in-review-cm315283 |title=King of Consistency - Larry Robbins' High Conviction Stocks in Review|author=GuruFocus|publisher=NASDAQ |date =December 31, 2013}}</ref><ref name="cnbc">{{Cite news| url =https://www.cnbc.com/larry-robbins/ |title=Larry Robbins|publisher=CNBC |date = May 17, 2013}}</ref> Robbins played hockey throughout college and was captain of the University of Pennsylvania club team for three years.<ref name="bull">{{Cite news | url =http://online.barrons.com/news/articles/SB50001424052748704755304578621540036830574#articleTabs_article%3D1 | title =Bullish on Obamacare | author =Erin E. Arvedlund | publisher =Barron's Magazine | date =July 27, 2013 | archive-date =August 27, 2014 | access-date =September 1, 2014 | archive-url =https://web.archive.org/web/20140827145121/http://online.barrons.com/news/articles/SB50001424052748704755304578621540036830574#articleTabs_article%3D1 | url-status =dead }}</ref> Robbins became a Certified Public Accountant in 1991 in Illinois.<ref name="bw">{{Cite news| url =http://investing.businessweek.com/research/stocks/private/person.asp?personId=663097 |title=Lawrence Michael Robbins CPA|publisher=Bloomberg Businessweek |accessdate = August 26, 2014}}{{dead link|date=April 2023|bot=medic}}{{cbignore|bot=medic}}</ref>
==Investment career== After graduation, Robbins worked at Gleacher & Company, a merger and advisory boutique in New York.<ref name="guru"/><ref name="cnbc"/> He joined Leon Cooperman at Omega Advisors after three years at Gleacher.<ref name="guru"/><ref name="cnbc"/> Robbins spent six years as an analyst and partner at Omega Advisors on their US equity long/short team.<ref name="cnbc"/> 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.<ref name=ForbesBillionaires>{{cite web |title=Forbes profile: Larry Robbins |url=https://www.forbes.com/profile/larry-robbins/ |website=Forbes |accessdate=11 September 2019}}</ref><ref name="tops"/> In 2012, he made a successful bet by investing in hospital companies that he thought would benefit from Obamacare.<ref name=BarronsBullish>[http://online.barrons.com/news/articles/SB50001424052748704755304578621540036830574 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] {{Webarchive|url=https://web.archive.org/web/20140827145121/http://online.barrons.com/news/articles/SB50001424052748704755304578621540036830574 |date=2014-08-27 }} July 27, 2013</ref> Unlike most hedge funds, Robbins is known for holding stocks for years and not employing stop-losses.<ref name=BarronsBullish /> 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.<ref>[http://nymag.com/news/features/2007/hedgefunds/30343/ New York Magazine: "Who Gets to Marry a Billionaire? Hedge-fund wives and where they come from" by Tim Murphy] October 24, 2007</ref><ref>[http://www.nysun.com/out-and-about/out-about-2006-11-30/44384/ New York Sun: "Out & About" By A.L. GORDON] November 30, 2006</ref> In 2012, he married his second wife, Sarahmay Wesemael.<ref name="tops"/> He lives in Alpine, New Jersey but has recently relocated to South Florida.<ref>[http://www.northjersey.com/news/hockey-fan-cleared-to-build-indoor-rink-1.214895 North Jersey.com: "Ice rink in Cresskill residence cleared for construction after lawsuit dismissed" By DEENA YELLIN] January 3, 2012</ref> Robbins is the owner of the Chicago Steel of the USHL.<ref>{{Cite web|url=http://www.chicagosteelhockeyteam.com/page/show/2725243-about-the-steel|title=About the Steel|access-date=2017-01-09|archive-date=2016-11-05|archive-url=https://web.archive.org/web/20161105162443/http://www.chicagosteelhockeyteam.com/page/show/2725243-about-the-steel|url-status=dead}}</ref>
== 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.<ref name="cnbc" /> 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.<ref>{{Cite news|url=http://ic2013.robinhood.org/speakers.php?speaker=robbins|title=Larry Robbins|date=November 22, 2013|publisher=Robin Hood Foundation}}</ref> 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.<ref>{{Cite news|url=http://investforkidschicago.org/speakers-2014/1902/larry-robbins-2/|title=Larry Robbins|publisher=Invest for Kids|accessdate=August 27, 2014}}</ref> 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.<ref name="cnbc" /><ref>{{Cite news|url=http://www.philanthropyroundtable.org/topic/excellence_in_philanthropy/mediocrity_be_gone|title=Mediocrity Be Gone|publisher=Robin Hood Foundation|accessdate=August 26, 2014}}</ref>
In 2014, Robbins reportedly earned $570 million (including his share of his firm's management and performance fees, cash compensation and stock and option awards).<ref name="BakerFilbeck2017">{{cite book|author1=H. Kent Baker|author2=Greg Filbeck|title=Hedge Funds: Structure, Strategies, and Performance|url=https://books.google.com/books?id=qYwtDwAAQBAJ&pg=PT52|date=26 July 2017|publisher=Oxford University Press|isbn=978-0-19-060739-5|pages=52–}}</ref>
==References== {{reflist}}
{{DEFAULTSORT:Robbins, Larry (hedge fund manager)}} Category:1969 births Category:American billionaires Category:American chief executives of financial services companies Category:American financial analysts Category:American financial company founders Category:American financial traders Category:American financiers Category:American hedge fund managers Category:American investors Category:Businesspeople from Illinois Category:People from Alpine, New Jersey Category:Private equity and venture capital investors Category:Wharton School alumni Category:Living people Category:Shareholder-rights activists Category:Stock and commodity market managers Category:Businesspeople from Bergen County, New Jersey