Soroban Capital Amasses Johnson Controls Stake Alongside Elliott
- Hedge fund Soroban builds stake worth more than $500 million
- Johnson Controls shares rise after Elliott’s holdings reported
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Soroban Capital Partners has amassed a large stake in industrials firm Johnson Controls International Plc, compounding pressure brought by activist investor Elliott Investment Management, according to people with knowledge of the matter.
New York-based hedge fund Soroban has invested more than $500 million in Johnson Controls, making it one of the company’s top 20 investors, the people said, asking not to be identified discussing private information.