Conversant Capital nearly doubled its position in SNDA, lifting its holding to $471.04 million as shares surged 45% over the past year.
Conversant Capital increased its stake in Sonida Senior Living (NYSE:SNDA) by purchasing 5,341,221 shares for an estimated $178.71 million. The transaction, disclosed in a May 15 SEC filing, raised the fund’s total holding to $471.04 million, up $168.92 million from the prior quarter.
Sonida Senior Living shares closed at $38.58 on May 14, reflecting a 45% gain over the past year. The S&P 500, by comparison, rose about 25% in the same period. The fund’s top holding, SNDA now represents 63.3% of its assets under management.
Conversant’s other key positions include Invitation Homes (NYSE:INVH) at $31.06 million and Janus Henderson Group (NYSE:JAN) at $28.52 million. The firm focuses on senior living and real estate investments.