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Jana Liquidates Two Hedge Funds, to Focus Only on Activism

(Reuters) Jana Partners LLC, founded by Barry Rosenstein, is shutting down two stock-picking hedge funds following losses and will focus instead on its main strategy of investing in a handful of companies and pushing management to improve their performance. The New York-based firm, which managed $11 billion at its peak in 2015, will liquidate its Jana Partners and Jana Nirvana funds, the firm told its investors in a letter seen by Reuters.

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