Ortelius Nominates Directors, Starting Brookdale Proxy Fight (1)

Activist investor Ortelius Advisors is kicking off a proxy battle at Brookdale Senior Living Inc. by nominating six directors, blaming the current board for what it called the company’s “abysmal performance and chronic undervaluation.”

Ortelius has built a 1.3% stake in the senior living facility operator and plans to pitch shareholders on board changes ahead of the company’s annual meeting later this year, according to a letter to shareholders reviewed by Bloomberg News.

The nominees include Frank Small, who formerly held senior roles at KKR & Co. and Fortress Investment Group, and Steven Vick, who co-founded Pegasus Senior Living, ...