Dyal Sues Rosenstein’s Jana Over Divided Attention at Fund

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    Dyal Sues Rosenstein’s Jana Over Divided Attention at Fund (Bloomberg)
    Jana Partners LLC, the activist fund founded by Barry Rosenstein, failed in overseeing its day-to-day operations, the Dyal unit of Neuberger Berman said in a lawsuit. Dyal Capital Partners, the largest investor of its kind to take interests in hedge fund and private equity firms, took a 20% stake in Jana in 2015. The Neuberger unit generally expects fund managers to stay actively involved for the duration of its investment.