Jana Partners Discloses 7.6% Stake in Xerium Tech (XRM)
In a 13G filing after the close on Xerium Technologies Inc. (XRM), hedge fund Jana Partners disclosed a 7.6% stake (3,500,000 shares) in the company. Jana did not show a stake in XRM at the quarter ended March 31, 2008. A 13G indicates a 'passive investment', although Jana is considered an activist investor.
Xerium Technologies, Inc. manufactures and supplies consumable products that are used in the production of paper.
JANA Partners LLC is New York based hedge fund with about $8 billion in assets. The fund launched in April 2001 and is managed by founder Barry Rosenstein. The company primarily invests in the United States public equity markets and uses activist strategies, a market neutral strategy, a long/short equity strategy, and a risk arbitrage strategy while making investments.
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