Hedge Fund Reports 5.3% Ownership in Sunrise Senior Living

Sunrise Senior Living (NYSE: SRZ) reported that Millennium Management LLC has a 5.3% stake in the company according to a recent filing from the U.S. Securities and Exchange Commission.

Millennium Management is a global investment management firm with approximately 800 employees and $10.1 billion in assets under management.

A portion of the company’s stake is held through Integrated Core Strategies (2,993,977 common shares) and Millenco LLC (55,197 common shares).  Millennium Management is managing member of both firms according to the SEC filing.


Based in McLean, Va, Sunrise operates 317 communities located in the United States, Canada and the United Kingdom, with a unit capacity of approximately 31,100 units as of March 31, 2011.  Earlier this month, Sunrise entered into an agreement with Morgan Stanley for the purchase 80% ownership interest AL US Development Venture, LLC, a joint venture entity for $45 million.

Mark Ordan, CEO of Sunrise, said the purchase fits perfectly with the company’s overall strategy of owning what it manages.  “The purchase of these 15 purpose built Sunrise mansions clustered in major metropolitan markets is an excellent use of the proceeds of our convertible debt offering,” he said.