AE Industrial Partners Sells 27 Million Shares in BigBear.ai Stake Reduction
Despite the sell-off, AE-affiliated entities maintain significant ownership and board representation at BigBear.ai.
April 10, 2025
AE Industrial Partners Trims BigBear.ai Holdings While Retaining Board Influence
AE Industrial Partners has reduced its stake in BigBear.ai, selling over 27 million shares in a single transaction on April 8, 2025. The shares were sold at $2.86 each, bringing the firm’s total indirect ownership down to just under 200,000 shares.
Even with this significant reduction, AE isn’t stepping away from BigBear.ai. The firm and its affiliated investment vehicles—Pangiam Ultimate Holdings, BBAI Ultimate Holdings, and multiple AE Industrial Partners Fund II entities—are still listed as 10% owners. They also retain board representation, signaling continued involvement in the company’s direction.
The filing shows that the vote and control over the remaining shares sit with Michael R. Greene and David H. Rowe, both of whom manage AeroEquity GP, LLC, the general partner of the AE investment funds. That central role keeps the group aligned on decisions around BigBear.ai’s equity position.
AE’s relationship with BigBear.ai extends beyond stock ownership. Kirk Michael Konert and Jeffrey Hart, partners at AE Industrial Partners, are also acting as directors of the company. That’s not a symbolic role—it reflects an ongoing influence at the leadership level.
There’s no commentary in the filing about why AE sold such a large block of shares. But what’s clear is that the group remains strategically connected to the business. The sale may shift the numbers on the page, but AE still has a seat at the table—and a say in what comes next.
For investors tracking ownership shifts and governance dynamics, this is a key update. It reflects a rebalancing of AE’s exposure to BigBear.ai while reaffirming the firm’s role in guiding the company forward.
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