Artisan Partners hires Brudnick from activist Sachem Head

NEW YORK, Oct 29 (Reuters) - Investment firm Artisan Partners Asset Management hired Jonathan Brudnick from activist investor Sachem Head Capital Management to run an investment strategy that will be rolled out to clients next year, the firm said.

Brudnick's team "will pursue a concentrated, long-biased equity strategy focused on small- and mid-sized companies," an Artisan representative said on Thursday, adding, "This new investment franchise further expands Artisan's investment platform and alternatives capabilities."

Brudnick will spend the coming weeks building a team and preparing for next year's launch. Artisan Partners oversees $168.7 billion in assets and has 11 investment teams, according to its website. CEO Jason Gottlieb said on an earnings call on Wednesday that Brudnick had been hired. Brudnick could not be reached for comment.

At Sachem Head, one of the industry's busiest activist investors with roughly $7 billion in assets, Brudnick was a partner and worked on some of the firm's biggest investments including its campaign at foodservice distributor U.S. Foods Holding USFD.N where the hedge fund settled for board seats in 2022. He joined the board of theme park operator Six Flags Entertainment FUN.N last year as part of a settlement with the hedge fund. He is expected to keep the board seat as Sachem Head's representative.