New Activist Hedge Fund Has CEO Backing

WSJ – Two Wall Street deal makers are starting an activist hedge fund with a collaborative approach to management, hoping that financial backing from chief executives as well as their own experience advising boards under fire will open more doors than the combative stances and sharp missives favored by other activists.

Douglas Braunstein, J.P. Morgan Chase & Co.’s former chief financial officer, and James Woolery, chairman-elect at law firm Cadwalader, Wickersham & Taft LLP and onetime deal maker at J.P. Morgan, have been quietly raising money and plan to formally launch the fund Tuesday, said people familiar with the matter.

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