Carronade Capital seeks board seats at Cannae Holdings

Carronade Capital Master LP, which owns approximately 3.2 million shares of Cannae Holdings Inc. (NYSE: CNNE), issued a presentation detailing its campaign to elect four director nominees to the company's board at the December 12, 2025 annual shareholder meeting.

The investment firm nominated Mona Aboelnaga, Benjamin Duster, Dennis Prieto and Cherie Schaible for board positions. Carronade Capital, which manages approximately $2.7 billion in assets, described the nominees as independent candidates with specific expertise.

In its presentation, Carronade Capital stated that Cannae has delivered total annualized shareholder returns of 0.15% since inception. The firm attributed this performance to what it characterized as poor strategic decisions and weak oversight.

"Cannae holds a valuable collection of assets, yet years of poor strategic decisions, weak oversight due to a misaligned and intertwined Board and egregious governance practices have eroded investor confidence," Carronade Capital said in the presentation.

The investment firm outlined initiatives it believes would improve shareholder returns, including what it described as bolstering corporate governance through independent directors, increasing transparency and improving capital allocation.

Shareholders must submit votes by 11:59 pm Pacific Time on December 11, 2025. Carronade Capital has filed a definitive proxy statement with the Securities and Exchange Commission and is using a gold proxy card to solicit votes for its nominees.

Carronade Capital Management was founded in 2019 by Dan Gropper and launched operations on July 1, 2020. The firm focuses on catalyst-rich investment situations and employs 17 team members.

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