Ananym Capital launches activist campaign after acquiring stake in Siemens Energy

The Financial Times reported that Ananym Capital owns a stake in Siemens Energy, a German company. It is pushing Siemens to separate its wind business.

Ananym has 'launched a campaign of activism against the company,' FT reported, citing sources familiar with the issue. The stake was not disclosed.

Charlie Penner and Alex Silver, a former P2 partner, founded the activist hedge fund last year. Penner was the architect of a three-seat win at Exxon Mobil by 2021.

Ananym claimed that Siemens' wind energy unit was holding back its gas turbine and grid power businesses, which had boomed due to the growing demand for electricity from AI data centres, according to the newspaper, citing an email sent by Siemens Energy's Board.

The report stated that the hedge fund wants the energy equipment provider to conduct a "strategic assessment" of Siemens Gamesa's wind business, which may include spinning off the unit they took over less than three years earlier.

The report could not be verified immediately. Siemens Energy and Ananym Capital didn't immediately respond to comments.

Siemens Games is still struggling to recover from the quality crisis of two years ago. The company posted a loss in operating income of 1,36 billion euros (1,58 billion dollars) for the fiscal year that ended in September.

Siemens Energy is committed to turning around the unit, citing the long-term potential of wind energy. Reporting by Gursimran in Bengaluru, editing by Mrigank.

(source: Reuters)