Bluebell Capital takes stake in pharma giant and puts pressure on Emma Walmsley
GSK’s chief executive, Emma Walmsley, has come under pressure from a second activist hedge fund, Bluebell Capital Partners, which has taken a stake in the drugmaker to push for change at the top, including forcing her to reapply for her job.
The London-based Bluebell Capital Partners has joined the US hedge fund Elliott Management on the pharmaceutical giant’s shareholder roster, with a stake reported to be worth £10m. With £100m assets under management, Bluebell is a much smaller firm than Elliott, which snapped up an undisclosed stake in April. But the two-year-old UK firm has already made waves by unseating the chief executive of the French consumer goods group Danone earlier this year.