About
Ananym Capital Management was launched September 3, 2024, by Charlie Penner (Engine No. 1, Jana Partners) and Alex Silver (P2 Capital Partners), backed by Tiger Management. The firm gained immediate prominence with its first campaign targeting Henry Schein ($73B market cap), pushing for board refresh, cost cuts, CEO succession, and medical distribution business sale. Penner led Engine No. 1's historic 2021 Exxon board victory—the biggest upset in corporate history—securing three board seats with just 0.02% ownership. The firm currently holds 10 positions and manages $250 million, focusing on constructive, value-enhancing engagements.
Investment Focus
Ananym employs a fundamental value investment strategy targeting high-quality but undervalued small to mid-cap companies across industries. The firm prefers working amicably with management to drive operational improvements, strategic mergers, asset sales, or privatization but will pursue proxy battles as a last resort. With deep expertise in shareholder campaigns, Ananym identifies companies with strong fundamentals but poor execution, governance issues, or strategic drift, then engages to unlock value through board representation, management changes, and strategic repositioning.