LongRange Capital
“Bob Berlin's firm saved Arby's. Its other bets: a casket maker, 24 Hour Fitness bought out of bankruptcy, and a pending $1.5 billion deal for Pizza Hut.”
LongRange Capital is a Stamford, Connecticut private equity firm founded in 2019 by Bob Berlin, a former Baupost investor who ran the turnaround of Arby's. It manages roughly $1.7 billion and sells itself on a longer-term, "customer-first" approach to fixing businesses. Its consumer holdings run an odd gamut: Batesville, the casket and funeral-products maker it bought from Hillenbrand in 2022, and 24 Hour Fitness, which it picked up in January 2026 alongside the gym chain's returning founder, Mark Mastrov. In June 2026 it agreed to buy Pizza Hut outside mainland China from Yum! Brands for about $1.5 billion, its first restaurant chain. It also briefly held a stake in UK food maker Bakkavor before Greencore bought that company out in January 2026.
Founded 2019 · Stamford, CT