For nearly a decade, Jesse Cohn has provided his insights regarding technology companies to the investment firm Elliott Management Corporation. Currently a portfolio manager, Jesse Cohn played a role in the recent buyout of BMC Software, Inc.
Founded in 1980, BMC Software has become a leader in information technology solutions, working with more than 20,000 clients around the world. Offering virtual, cloud, and mainframe services, the firm earns over $2 billion in revenue every year. The company went public in 1988, but BMC Software was bought out by four private investors in 2013.
The transaction involved Bain Capital, Golden Gate Capital, GIC Special Investments Pte Ltd, and Insight Venture Partners jointly purchasing the firm for $6.9 billion. Prior to the arrangement, Elliott Management owned 9.6% percent of BMC Software common stock, which made it the second largest shareholder. It encouraged BMC Software to seek a private buyout. During negotiations, Elliott Management agreed to vote in favor of the buyout.