Jana Partners has announced plans to shutter its flagship JANA and Nirvana funds to focus solely on its activist-focused strategy. The firm informed investors of its decision on Tuesday in a letter, which was reviewed by ValueWalk. Jana turns fully toward activism Founder Barry Rosenstein and his team at Jana launched their activist-focused fund JANA Strategic Investments (JSI) in 2010 to complement their two flagship funds. In their letter to investors this week, they said the JSI fund has provided the firm “stable, longer duration capital” and enables them to “upsize positions when prudent by offering investors additional co-investment opportunities.”…
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