Activism in 2024 is off to a record pace! Global campaigns are 29% above the historical average. Driving this surge is a record number of "first-timers" launching campaigns (46% of campaigns), as the types of activist agitators continue to diversify. "Next generation" activist PMs are leaving large and established funds to launch new ones, demonstrating that it does not take a multi-billion AUM to make an outsized impact. Furthermore, for Boards of Directors, the data on the consequences of activism should serve as a call to action. When targeted by an activist, a company is 2X as likely to be sold or broken up, and the CEO is more than 2X as likely to be replaced. With these threats around the corner for any company, it has never been more important to be organized, prepared, and rehearsed so that you can maintain control of the situation when the company comes under fire from a shareholder.
In the first half of 2024, there were 147 new activist campaigns globally, representing a 29% increase over the historical five-year average, marking the busiest half-year on record. Continued momentum in North America and Europe, along with a spike in APAC, fueled this activity. A new generation of activists has emerged, with some already launching successful campaigns and others expected to ramp up activity later in 2024. Discover our findings below: