BOSTON, (Reuters) – Legion Partners is an activist investment firm. It was last year part of a group which settled for three Kohl’s Corp board seats (NYSE:). Two sources claim that Legion Partners claimed its fund had returned almost 35%, after fees, in 2021.

This was partly due to investments made in Vonage Holdings Corp. (NASDAQ) Corp. Last year, it sold itself for $21 per share. Legion reached an agreement with the company to include a director on the board in 2019. This was after having been quietly working behind-the scenes.

Investors were able to enjoy record market gains thanks to Legion’s 2021 return that beat the benchmark HFRI Activist Indice’s 19%.

The firm, headquartered in Los Angeles, manages roughly $500 million in assets and is well known for having been part of a group that took on Bed Bath & Beyond (NASDAQ:) and settled for four new independent directors in 2019.

Legion’s portfolio companies hired 11 directors in the last year. Legion has placed an emphasis on corporate governance and gender equality. Legion’s female directors have accounted for more than 44%.

Ted White 2012 and Christopher Kiper were the co-founders of Legion