Former Engine No. 1 executive Charlie Penner, known for his landmark shareholder campaign against Exxon Mobil Corp over three years ago, has secured backing from the late Julian Robertson’s Tiger Management for his new activist venture, Ananym Capital Management, according to a report by Bloomberg.
Penner is co-founding Ananym Capital with Alex Silver, a former partner at activist fund P2 Capital Partners, with the new firm set to focus on advocating for changes at small- to mid-cap companies, pushing for improvements in operations, strategic mergers, asset sales or privatisation. The report cites sources familiar with the matter as revealing that firm will look to drive transformation privately and will consider proxy battles only as a last resort.
Penner will lead engagement efforts at Ananym, while Silver will serve as Chief Investment Officer. The firm has not yet disclosed details about its fundraising efforts.
Before founding Ananym, Penner was with Engine No. 1, where he played a key role in a successful campaign against Exxon in 2021, leading to the appointment of new board members to steer the company toward a cleaner energy future. He left the fund later that year.
Prior to Engine No. 1, Penner was with activist hedge fund Jana Partners, where he collaborated with the California State Teachers’ Retirement System to push Apple to enhance parental controls on its devices to address screen addiction among children.
Silver’s previous roles include positions at Karsch Capital Management, Soros Fund Management and Lazard, according to his LinkedIn profile.
