Hedge Funds

JANA shifts co-founder, co-PM Gary Claar to advisory role


Up 11% for year, Barry Rosenstein’s event-driven firm also hires Och-Ziff vet as head trader.

  Barry Rosenstein

Changes are coming to Barry Rosenstein’s $3.2 billion JANA Partners. Gary Claar, who cofounded the event-driven firm with Rosenstein in 2001 and was co-portfolio manager for his entire tenure, has been shifted to a lower-profile “senior advisor” role, according to investor documents obtained by AR.

Claar will no longer have any portfolio management responsibility, a person familiar with the firm said. Decisions will run through Rosenstein and co-PM David DiDomenico, who was hired two years ago as part of the start of what the firm calls “JANA 2.0,” a post-financial crisis rebooting effort.