BOSTON (Reuters) – Several investors who push management to perform better are trying to raise hundreds of millions of dollars in new cash to buy stakes in companies beaten down by a historic market selloff, four people familiar with their plans said on Tuesday.
Glenn Welling, who runs the $1.1 billion Engaged Capital, wants to raise as much as $250 million in fresh money while Jonathan Litt’s $500 million Land & Buildings Investment Management is creating a new vehicle and will take however much money clients are ready to commit, the people said.
Litt, who specializes in real estate investments, wants to snap up companies with strong balance sheets that are trading at large discounts and own data centers, warehouses and lab space, for example.
He and his investment team will host a conference call on Wednesday to discuss the opportunities in public real estate being created by the COVID-19 sell-off.
Welling, who often wins board seats and calls for his target companies to sell…