Elliott to Retire Evergreen Coast Name for Buyouts

Elliott Investment Management, best known as an activist investor, is retiring its Evergreen Coast Capital Corp. brand for its private equity investments, according to people with knowledge of the matter.

(Bloomberg) — Elliott Investment Management, best known as an activist investor, is retiring its Evergreen Coast Capital Corp. brand for its private equity investments, according to people with knowledge of the matter.

The investment firm decided earlier this year to drop the name it has used since 2015, the people said, asking not to be identified discussing private information.

Elliott is doing away with the Evergreen name to avoid confusion while underscoring how private equity is integrated with the rest of the firm, they said. The capital for the private equity unit will still come from investment vehicles managed by Elliott and there are no personnel or headcount changes, the people added.

A representative for Elliott declined to comment.

While Elliott is best known for taking stakes in some of the world’s biggest companies and pushing for changes, the firm’s strategies also span credit, commodities, real estate and private equity.

The firm’s first private equity transaction under the Evergreen name was the buyout of Dell Software Group in 2016 alongside Francisco Partners.

Elliott was part of a consortium that agreed to acquire Syneos Health Inc. in a $4.4 billion deal this month. Its other buyout deals have included takeovers of Citrix Systems Inc., Nielsen Holdings Ltd. and Gigamon Inc.

Elliott has also done also private equity deals including the takeovers of Barnes & Noble Inc. and Athenahealth Inc.

(Corrects in last pragraph the unit used for Barnes & Noble and Athenahealth buyouts.)

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