Hedge fund giant Elliott is looking more like a buyout shop as it brings in a BlueMountain exec to help run portfolio companies Hedge fund giant Elliott Management is creating a position to oversee operations of its portfolio companies, according to people familiar with the matter. It's the latest move that's positioned the activist investor to look more like a buyout shop, as the firm has sprouted a private-equity arm and one source familiar with the matter said it has more "control-type situations" in private equity, public equity, and credit. Elliott is bringing onboard Jon Weber, Carl Icahn's former chief operating and finance executive who most recently served as head of portfolio operations at BlueMountain Capital. Click here for more BI Prime stories . Hedge fund giant Elliott Management is creating a position to oversee operations of its portfolio companies, in the latest move that's positioned the firm to look more like a buyout shop than a shorter-term investor, according to people familiar with the matter. Elliott is bringing onboard Jon Weber, Carl Icahn's former chief operating and finance executive who most recently served as head of portfolio operations at BlueMountain Capital.