Pennant Capital Management

If there’s one thing Alan Fournier has proven in his 14 years as a hedge fund manager, it’s his commitment to keeping his fund at a manageable size. Since founding Summit, New Jersey–based Pennant Capital Management in 2001, the long-short stock picker has stuck by his pledge to keep assets in his flagship Pennant Fund at a manageable $500 million. Fournier prefers to give capital back if he doesn’t have fresh and profitable investment ideas. Pennant Capital returned $325 million to investors on December 1, 2013…

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