# Public Equity Partners

Public Equity Partners is an Asset Manager based in Norwalk, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Norwalk, United States
- **Region:** North America
- **Address:** Norwalk, CT, United States
- **Founded:** 1992
- **Assets under management:** Undisclosed
- **Website:** publicequitypartners.com

## Regulatory record

- **CRD number:** 126765
- **SEC file number:** 801-62213
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/126765

## About

PUBLIC EQUITY PARTNERS is an SEC-registered investment adviser since 2003. The firm manages $187 million in assets, $42 million on a discretionary basis. It has 1 employee and 1 investment adviser.

## Sectors

- Enterprise Software
- Financial Services
- Business Services

## People

- Richard S. Waring — Managing Director

## Questions

### Who runs investment decisions at Public Equity Partners?

Richard S. Waring serves as Managing Director and holds final authority on portfolio construction and activist campaigns. Waring founded the firm in 1992 after earlier special-situations portfolio-management roles and has personally led board-seat campaigns, including the high-profile NetPerceptions engagement in the early 2000s. The investment team has historically numbered under ten professionals, with Waring directly involved in every position sizing decision.

### Does Public Equity Partners run a private equity fund alongside its public-activism strategy?

No. Although the firm describes its approach as private-equity-style ownership applied to public companies, it has not launched a dedicated buyout fund. All positions have historically been taken in publicly traded securities, including both common equity and distressed debt, with the activism occurring inside existing public-company governance structures rather than through take-private transactions.

### How concentrated is the portfolio?

Public Equity Partners has historically held 8 to 12 names, with the top five positions often representing over half of total assets. The firm uses concentration as a governance tool — meaningful stakes unlock board-seat access and creditor-committee standing, both of which require holding a position large enough to matter in a restructuring negotiation.

## Related profiles

- [Stalnaker Investment Group](https://altss.com/profile/stalnaker-investment-group-inc)
- [Sierra Shore Financial](https://altss.com/profile/sierra-shore-financial)

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Last updated: 2026-06-03T20:00:00.000Z

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